Please find below table useful to compute desired results: -
End results would be as follows: -
A finance lease agreement calls for quarterly lease payments of $5,519 over a 10-year lease term,...
A finance lease agreement calls for quarterly lease payments of $6,720 over a 10-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 12%. Both the present value of the lease payments and the cost of the asset to the lessor are $160,000. Required: a. Prepare a partial amortization table up to the October 1 payment. b. What would be the amount of interest expense (revenue) the lessee (lessor) would...
A finance lease agreement calls for quarterly lease payments of $5,753 over a 12-year lease term, with the first payment on July 1 the beginning of the lease. The annual interest rate is 8%. Both the present value of the lease payments and the cost of the asset to the lessor are $180,000 Required: o. Prepare a partial amortization table up to the October 1 payment. b. What would be the amount of interest expense (revenue) the lessee (lesson) would...
A finance lease agreement calls for quarterly lease payments of $4,851 over a 15-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 8%. Both the present value of the lease payments and the cost of the asset to the lessor are $172,000. Required: a. Prepare a partial amortization table up to the October 1 payment. b. What would be the amount of interest expense (revenue) the lessee (lessor) would...
A finance lease agreement calls for quarterly lease payments of $7,392 over a 10-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 12%. Both the present value of the lease payments and the cost of the asset to the lessor are $176,000. Required: a. Prepare a partial amortization table up to the October 1 payment. b. What would be the amount of interest expense (revenue) the lessee (lessor) would...
A finance lease agreement calls for quarterly lease payments of $4,625 over a 15-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 8%. Both the present value of the lease payments and the cost of the asset to the lessor are $164,000. a.Prepare a partial amortization table up to the October 1 payment . b. What would be the amount of interest expense (revenue) the lessee (lessor) would record...
Brief Exercise 15-3 (Algo) Lessee and lessor; calculate interest; finance/sales-type lease (LO15-2] A finance lease agreement calls for quarterly lease payments of $6,809 over a 10-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 8%. Both the present value of the lease payments and the cost of the asset to the lessor are $190,000. Required: a. Prepare a partial amortization table up to the October 1 payment. b. What...
A lease agreement that qualifies as a finance lease calls for annual lease payments of $50,000 over a six-year lease term (also the asset's useful life), with the first payment at January 1, the beginning of the lease. The interest rate is 5%. The lessor's fiscal year is the calendar year. The lessor manufactured this asset at a cost of $235,000. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)...
A lease agreement that qualifies as a finance lease calls for annual lease payments of $26,269 over a six-year lease term (also the asset's useful life), with the first payment at January 1, the beginning of the lease. The interest rate is 5% (FV of $1. PV of $1. EVA of St. PYA OLS1,EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: a. Determine the present value of the lease upon the lease's inception...
A lease agreement that qualifies as a finance lease calls for annual lease payments of $25,000 over a six-year lease term (also the asset's useful life), with the first payment at January 1, the beginning of the lease. The interest rate is 5%. The lessor's fiscal year is the calendar year. The lessor manufactured this asset at a cost of $112,000. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)...
A lease agreement that qualifies as a finance lease calls for annual lease payments of $40,000 over a five-year lease term (also the asset's useful life), with the first payment at January 1, 2016, the beginning of the lease. The interest rate is 4%. The lessor's fiscal year is the calendar year. The lessor manufactured this asset at a cost of $132,000. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of...