Question
Question Lease Signed on January 1, 2015 Lease term 7 Years Fair value of equipment Rs. 80,000 Cost of the leased asset Rs. 70,000 Life
Question
Lease Signed on January 1, 2015
Lease term 7 Years
Fair value of equipment Rs. 80,000
Cost of the leased asset Rs. 70,000
Life 7 Years
Rental payments (Payable at the beginning) Rs. 14477.42
Implicit rate 12%
Residual value 0
Required
(1) Journal entries in the books of lessor for the first year.
(2) Prepare lease amortization schedule. (Show complete computations)
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Healthcare Fraud Auditing And Detection Guide
Authors: Rebecca S. Busch
2nd Edition
978-1118179802
