urgent please!

5 Kingbird Inc. entered into a five-year lease of equipment from Matusek Inc on July 1, 2021. The equipment has an estimated economic life of eight years and fair value of $290,000. The present value of the lease payments amounts to $250,103. The lease does not have a bargain purchase option and ownership does not transfer to Kingbird at the end of the lease. Using the above WileyPlus question please enter the appropriate information from the question into the appropriate boxes below: Data from the WileyPlus Assignment Question 13 O 1 2 3 4 5 6 7 8 9 0 1 Date of the lease All items in the part below MUSThe cell referenced to your data to the latt. Eacal Fair value of equipment formules for all amounts including date. Present value of lease payments Term of the lease in years) Interest rate (not provided) 8.00% Calculate the amount of the lease payments for each of the 5 years assuming the company uses a rate of 8% and lease payments are due at the beginning of each period (careful to use the com For purposes of this cakulation enter for the FV otherwise your leate schedule in part b will not work out. (2 marks) 4 27 20 Prepare a lease schedule for this lease arrangement using the lease payments cakulted in a above. (4 marks) Lease Obligation Obligation after Lasse Payment Interest Reduction payment Date 10 31 32 All items in this schedule MUST benced to your data above. Use celular for all amounts Induding 33 14 35 Prepare all the journal entries to record the lease obligation and first payment on July 1, 2021 (4 marks) using US rules. Date Account Name Debit Credit 36 37 30 19 40 41 42 41 14 45 od 47 Prepare the required journal entries at June 30, 2021 (the company's year end) and the July 1, 2022 lease payment using IFRS rules. (Assume straightline depreciation on the equipment under lease) 17 marks) Date Account Name Debit Credit d. Prepare the required journal entries at June 30, 2021 (the company's year end) and the July 1, 2022 lease payment using IFRS rules. (Assume straight line depreciation on the equipment under lease) (7 marks) Date Account Name Debit Credit Discuss how the company would account for this lease of the company followed ASPE. Explain your answer using the rules discussed in our lectures (4 maks) 70 f. 71 72 73 74 75 76 Prepare the company's partial balance sheet (liability section ONLY) at June 30, 2021.(4 marks) Company Name Partial Balance Sheet June 30, 2021 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92