Rogers Company signs a five-year capital lease with Packer Company for office equipment. The annual year-end lease payment is $15,000, and the interest rate is 8%. (Table B.1,Table B.2,Table B.3, andTable B.4)(Use appropriate factor(s) from the tables provided.)

14. value:

1.17 points Required information

1.	Complete the below table to calculate the present value of Rogers five-year lease payments.

References eBook & Resources Expanded tableDifficulty: 2 MediumLearning Objective: 10-C4 Appendix 10D-Describe accounting for leases and pensions.Check my work

15. value:

1.17 points Required information

2.	Prepare the journal entry to record Rogers capital lease at its inception.

References eBook & Resources WorksheetDifficulty: 2 MediumLearning Objective: 10-C4 Appendix 10D-Describe accounting for leases and pensions.Check my work

16. value:

1.17 points Required information

3.	Complete a lease payment schedule for the five years of the lease with the following headings. Assume that the beginning balance of the lease liability is the present value of lease payments.

References eBook & Resources Expanded tableDifficulty: 2 MediumLearning Objective: 10-C4 Appendix 10D-Describe accounting for leases and pensions.Check my work

17. value:

1.28 points Required information

4.	Use straight-line depreciation and prepare the journal entry to depreciate the leased asset at the end of year 1. Assume zero salvage value and a five-year life for the office equipment.