Return to course :: My Subscriptions Olivia Bous Business Course Ostian 2 Partially correct Markalard10. Prag question Reporting Finance Lease, Guaranteed Residual-Lessee Mac Leasing Company (lessor and Ash Corporation (lessee signed a four-year lease on January 1, 2020. The underlying asset has an estimated life of six years and a fair value of $50,000, and the property reverts to Mac at the end of the lease term. Lease payments of $11,923 are payable on January 1 of each year and were set to yield Mac a return of 3%, which was known to Ash. The estimated residual value at the end of the lease term is $10,000 and is guaranteed by Ash Corporation. Ash expects the estimated residual value at the end of the lease term to be $10,000. The lease contains no purchase option allow woulu Asi Corporation classify the lease? Finge Lease Amortization Schedule Journal Entries: Estimated Residual - Guaranteed Residual Journal Entries: Estimated Residual Guaranteed Residual b. Prepare an amortization schedule of the lease liability Note: Round each amount in the schedule to the nearest who e dollar, Use the rounded amount for later calculations in the schedule Lease Interest Reduction of Date Payment on Llability Lease Liability Lease Liability Jar. 1.2020 30 UUU X Jan 1, 2030 500 x Jar. 1.2021 Total 5 OKO XS0 X Check Return to course :: My Subscriptions Olivia Bous Business Course Ostian 2 Partially correct Markalard10. Prag question Reporting Finance Lease, Guaranteed Residual-Lessee Mac Leasing Company (lessor and Ash Corporation (lessee signed a four-year lease on January 1, 2020. The underlying asset has an estimated life of six years and a fair value of $50,000, and the property reverts to Mac at the end of the lease term. Lease payments of $11,923 are payable on January 1 of each year and were set to yield Mac a return of 3%, which was known to Ash. The estimated residual value at the end of the lease term is $10,000 and is guaranteed by Ash Corporation. Ash expects the estimated residual value at the end of the lease term to be $10,000. The lease contains no purchase option allow woulu Asi Corporation classify the lease? Finge Lease Amortization Schedule Journal Entries: Estimated Residual - Guaranteed Residual Journal Entries: Estimated Residual Guaranteed Residual b. Prepare an amortization schedule of the lease liability Note: Round each amount in the schedule to the nearest who e dollar, Use the rounded amount for later calculations in the schedule Lease Interest Reduction of Date Payment on Llability Lease Liability Lease Liability Jar. 1.2020 30 UUU X Jan 1, 2030 500 x Jar. 1.2021 Total 5 OKO XS0 X Check