was Show Me How V Kufman and Sons signed a four-year lease for a fort on January 1, 2017. Annual lease payments of $1,436, based on an interest rate of 12%, are to be made every December 31, beginning with December 31, 2017, PV of Annuity of $1 Required Refer to the table above for present value factors. 1. Assume that the lease is treated as an operating lease a. Will the value of the fork appear on Koffman's belane sht b. What account will indicate that lease payments have been made aerofy and analyze the effect when the base is ged Activity How does the entry affect the aunting If a Bencial statement them u not affected, select "No Entry and leave the anunt bes bank. If the effect on a financial statement them is negative, Le, a decrease, i sure to rear the awer with a minus sign. Rund answers to the As Balance Sheet Stockholders Equity Income Statement Explain why the value of the leased asset is not rearded at $5,744 (81436x4). The leaned asset should be reported at the of the payments which e payment on December 31, 2017 Activity Acsunts Expenses Net Income How does this entry affect the accounting equation? ta francal statement Rem is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negative, Le, a decrease, be sure to enter the answer with a minus sign Round answers to the A Balance Sheet Stockholders Equity Revenue Calculate the amount of depreciation expense for the year 2017. Round answer to the nearest whole dotar d. At what at the lease obligerion be presented on the balance sheet of December 31, 20177 Round newers to the nearest whole dollar Current ability arti Check My Work Encame Statement Income Previous Next Sibost