A lease agreement that qualifies as a finance lease calls for annual lease payments of $30,000 over a four-year tesso te

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A Lease Agreement That Qualifies As A Finance Lease Calls For Annual Lease Payments Of 30 000 Over A Four Year Tesso Te 1 (30.09 KiB) Viewed 69 times

A lease agreement that qualifies as a finance lease calls for annual lease payments of $30,000 over a four-year tesso term (niso the asset's useful life with the first payment at January 1, the beginning of the lease. The Interest rate is 8%. (E of $1. PV of $1. EVA 51. PVA 0:51. EVAD of S1 and PVAD OLS1) (Use appropriate factor(s) from the tables provided.) Required: a. Complete the amortization schedule for the first two payments b. If the lessee's fiscal year is the calendar year, what would be the amount of the lease ability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? Complete this question by entering your answers in the tabs below. Required A Required B Complete the amortization schedule for the first two payments. (Enter all amounts as positive values. Round your answers to the nearest whole dollar) Dute Lean Elective Decrease in Outstanding Payment Interest Balance Balance January 1 Year 1 January 1. Yeart January 1 Year 2 Required)