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Wildhorse Corporation, which uses ASPE, enters into a 6-year lease of equipment on September 1, 2020, that requires 6 annual payments of $15.000 each, beginning

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Wildhorse Corporation, which uses ASPE, enters into a 6-year lease of equipment on September 1, 2020, that requires 6 annual payments of $15.000 each, beginning September 1,2020. In addition, Wildhorse guarantees the lessor a residual value of $4,000 at lease end. The equipment has a useful life of seven years. Click here to view the factor table PRESENT VAI UE OF 1 Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE OF 1. Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the capital lease and prepare Wildhorse's September 1,2020 journal entry assuming an interest rate of 9%. (Credit account titles are outomatically indented when the amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round factor values to 5 decimal places, eg. 1.25124 and final answers to 0 decimal ploces, eg. 5.275. Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the capital lease and prepare Wildhorse's September 1, 2020 journal entry assuming an interest rate of 9%. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Round foctor values to 5 decimal ploces, es. 1.25124 and final answers to 0 decimal ploces, eg. 5.275.) Assume instead that Wildhorse follows IFRS and that the amount expected to be paid under the residual value guarantee is $8,000. Calculate the amount of the right-of-use asset and prepare Wildhorse's September 2020 journal entry, assuming an interest rate of 9%. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Round foctor values to 5 decimal ploces, e9. 1.25124 and final answers to O decimal places, eg. 5,275.)

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