Question
Q2. For You Inc. (12 Points) a. Calculate depreciation expense Value of ROU asset (Gross) Lease period (months) Depreciation per period (month) Depreciation per year
| Q2. For You Inc. (12 Points) |
| ||
|
| |||
| a. Calculate depreciation expense |
| ||
|
| |||
| Value of ROU asset (Gross) |
|
| |
| Lease period (months) |
|
| |
| Depreciation per period (month) |
|
| |
| Depreciation per year |
| CHECK: Does this number reconcile with change in Accumulated Depreciation? | |
|
| |||
| Interest rate (per annum) |
|
| |
| Number of payments per year |
|
| |
| Lease period (years) |
|
| |
| Total number of payments |
|
| |
| Interest rate per period |
|
| |
| Monthly payment |
|
| |
| Lease value (PV) [Report as positive number] |
|
| |
|
| |||
| Present value of lease payments |
|
| |
| Add: Payment at inception credited to asset value |
|
| |
| Value of ROU asset |
|
| |
|
| |||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Total Quality Safety Management And Auditing
Authors: Michael B. Weinstein
1st Edition
1566702836, 978-1566702836
