Question

20 Ther a puche aspec t s and the men's Bramble Corporation asse r omos Company on years , and the presence of the pa t h e does not transfer nership c the se the b e ach the Prepare also resor t imply 5285. Recorda t and December 31 2000 when the o and bring with hos c Click here to vw factors Date A p lanation (Te recorda

Answer 1

E F Α B 1 Date Particular 2 01-01-2020 Right-of-use asset (50000*2.8080) Lease liability |(To record the lease liability) 01-01-2020 Lease liability Cash C D Debit ($) Credit ($) 140400 140400 50000 m = unor o 50000 To record the lease payment) 31-12-2020 Lease expense 50000 6328 Lease liability (140400-50000)*7% Right-of-use asset (To record the accrual of rent) 43672 f 13 2.8080 comes from the present value of an annuity due table with period of 3 years and rate of 7%