Ques Question 4 14.5 points The fawing facta pertanto me between Star Bank Leasing (lessor) and JKL Printers (Lesses for a piece of equipment 1. The for five year form, beginning on January 1, 2021. The economic life of the asset is five years The lessora impliciterest rate is the lessee's incremental borrowing rate is 8% 3. The value of the Equipment is 5145,000. The cost of the equipment to the lessor is $145.000 The annuloase payment is $35,076.10: the first payment is due on January 1, 2021. The amount includes $1.450 for executory cost 5. Title to equipment automatically transfers to the losseo at the end of the lease term. The assot is expected to have a residual value of $11.500 M the end of its useful to & Both the lessee and the lessor use the calendar year for their accounting periods and prepare financial statements in accordance with ASPE. structions dantly the lease type from the standpoint of the JKL Printers' Books (lossee) b. Prepare the journal entry to record the inception of the lease on the lessee's books = Prepare the journal entries on JKL. Printers' books to record the first payments and expenses related to this lease for the years 2021 as well as any adjusting journal entrie onds of December 31, 2021 Toolbar, press ALT F10 (PC) or ALT+FN+F10 (Mac) 71 S. Paragraph Arial 10pt == sis A 1 ? ?? ?? E X X? & T 9. I b ?????? + ? TT B 38 BE #6 on January 1, 2021. The amount includes $1.450 requent automatically transfers to the lesson at the end of the late form. The spected to 511 Hotels and the lessor use the calendar year for their accounting periods and prepare financial in Instruction 1. Identify the lease type from the standpoint of the JKL Printers Books (ouse) b. Prepare the journal entry to record the inception of the lease on the lessee's books c. Prepare the journal entries on JKL Printers' books to record the first payments and expenses related to this fonse to the year 2001 as we wy utjate bort onds of December 31, 2021 For the toolbar.press ALT F10 (PC) or ALTEN: F10 (Mac). B I y s Paragraph Arial Topt > !!! ini A 2 T X Lle = = BE 1992 X XT T 1 Ques Question 4 14.5 points The fawing facta pertanto me between Star Bank Leasing (lessor) and JKL Printers (Lesses for a piece of equipment 1. The for five year form, beginning on January 1, 2021. The economic life of the asset is five years The lessora impliciterest rate is the lessee's incremental borrowing rate is 8% 3. The value of the Equipment is 5145,000. The cost of the equipment to the lessor is $145.000 The annuloase payment is $35,076.10: the first payment is due on January 1, 2021. The amount includes $1.450 for executory cost 5. Title to equipment automatically transfers to the losseo at the end of the lease term. The assot is expected to have a residual value of $11.500 M the end of its useful to & Both the lessee and the lessor use the calendar year for their accounting periods and prepare financial statements in accordance with ASPE. structions dantly the lease type from the standpoint of the JKL Printers' Books (lossee) b. Prepare the journal entry to record the inception of the lease on the lessee's books = Prepare the journal entries on JKL. Printers' books to record the first payments and expenses related to this lease for the years 2021 as well as any adjusting journal entrie onds of December 31, 2021 Toolbar, press ALT F10 (PC) or ALT+FN+F10 (Mac) 71 S. Paragraph Arial 10pt == sis A 1 ? ?? ?? E X X? & T 9. I b ?????? + ? TT B 38 BE #6 on January 1, 2021. The amount includes $1.450 requent automatically transfers to the lesson at the end of the late form. The spected to 511 Hotels and the lessor use the calendar year for their accounting periods and prepare financial in Instruction 1. Identify the lease type from the standpoint of the JKL Printers Books (ouse) b. Prepare the journal entry to record the inception of the lease on the lessee's books c. Prepare the journal entries on JKL Printers' books to record the first payments and expenses related to this fonse to the year 2001 as we wy utjate bort onds of December 31, 2021 For the toolbar.press ALT F10 (PC) or ALTEN: F10 (Mac). B I y s Paragraph Arial Topt > !!! ini A 2 T X Lle = = BE 1992 X XT T 1