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The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Sarasota Company, a lessee. The asset will revert to the lessor
The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Sarasota Company, a lessee. The asset will revert to the lessor at the end of the lease term. The lessee uses the straight-line amortization for all leased equipment. Prepare an amortization schedule that would be suitable for the lessee for the lease term. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answers to 0 decimal places e.g. 5.275.) \begin{tabular}{ccc} Date & \multicolumn{1}{c}{ Annual Lease Payment Plus GRV } \\ Liability \end{tabular}
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