Windsor Leasing Group signs an agreement on January 1, 2022, to lease scuipment to Colople. The following information re

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Windsor Leasing Group Signs An Agreement On January 1 2022 To Lease Scuipment To Colople The Following Information Re 1 (37.33 KiB) Viewed 37 times

Windsor Leasing Group signs an agreement on January 1, 2022, to lease scuipment to Colople. The following information relates to this agreement 1. The term of the non-cancelable Isase is 6 years with no renewal option. The equipment has an estimated economic life of 6 years 2. 3. The cost of the asset to the lessor is £275,000. The fair value of the asset at January 1, 2022, is £275,000 The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to havea residual value of £24,335, none of which is guaranteed. The agreement requires equal annual rental payments, beginning on January 1, 2022. Collectibility of the lease payments by Windsor is probable. 4. 5. Click here to view factor tables. (a) Your answer is correct. Assuming the lessor desires an 86 rate of return on its investment, calculate the amount of the annual rental payment required. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and the final answer to decimal places es. 5.275) Amount of the annual rental payment 52009 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Prepare an amortization schedule that is suitable for the lessor for the laase term. (Round answers to decimal places eg 5.275) WINDSOR LEASING GROUP (Lessor) Lease Amortization Schedule Annual Lease Payment Plus URV Interest on Lease Receivable Recovery of Lease Receivable Date 1/1/22 £ £ 1/1/22 1/1/23 1/1/24 1/1/25 1/1/26 1/1/27 12/31/27