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The following facts pertain to a non-cancelable lease agreement between Carla Vista Leasing and Tamarisk Group, a lessee (amounts in thousands). Commencement date May 1,
The following facts pertain to a non-cancelable lease agreement between Carla Vista Leasing and Tamarisk Group, a lessee (amounts in thousands). Commencement date May 1, 2022 Annual lease payment due at the beginning of each year, beginning with May 1, 2022 22,519.15 Bargain purchase option price at end of lease term 4,400 Lease term 5 years Economic life of leased equipment 10 years Lessor's cost 71,500 Fair value of asset at May 1, 2022 100,100 Lessor's implicit rate 8 % Lessee's incremental borrowing rate 8 % The collectibility of the lease payments by Carla Vista is probable. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Prepare a lease amortization schedule for Tamarisk for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.) TAMARISK GROUP (Lessee) Lease Amortization Schedule nnual Lease Payment Plus BPO Interest on Liability Reduction of Lease Liability Lease Liability 0 \ 0 0 \ 100100 22519 0 22519 77581 22519 6206 16313 61268 22519 4901 17618 43650 22519 3492 19027 24623 22519 1970 20549 4074 4400 326 4074 0 i 116996 W 16896 100100
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