Laura Leasing Company Signs An Agreement On January 1 2017

Prepare all diary entries for the taker for 2017 and 2018 to cover the rental agreement, rental payments and all expenses related to the lease. Suppose the taker`s annual accounts are sent on December 31. (Account securities are automatically withdrawn when the amount is entered. Do not enter manually. If no entry is required, select “No Entry” for account titles and enter 0 for amounts. Round answers to 2 decimals, z.B. 15.25.) Prepare all diary entries for the taker for 2017 and 2018 to cover the rental agreement, rental payments and all expenses related to the lease. Suppose the taker`s annual accounts are sent on December 31. Laura Leasing Company signs an equipment lease agreement with Whispering Company on January 1, 2017. The following information relates to this agreement. 1. The duration of the non-cancellable lease is 5 years without a renewal option.

The equipment has an estimated economic duration of 5 years. 2. The fair value of the asset as of January 1, 2017 is $76,700. 3. At the end of the lease period, the asset will return to the renter, to whom the asset is expected to have a residual value of $6,800, none of which is guaranteed. 4. Riverbed Company assumes direct responsibility for all performance costs that include the following annual amounts: ($1) $940 to the Rocky Mountain Insurance Company for insurance and (2) $1,470 to Laclede County for property taxes. 5. The contract requires the same annual rent of USD 17,048.41 to the lessor, as of January 1, 2017. 6. The incremental interest rate on leasing is 12%. The implied rate of the lessor is 9% and is known to the lessor.

7. Riverbed Company uses the line damping method for all devices. 8. Riverbed can use inverted inputs. Account Title Date and Debit Credit Statement 1/1/17 12/31/17 1/1/18 12/31/18 In 2017 In 2018 (To register the lease).) (How to save the lease payment.) 1/1/17 12/31/17 1/1/18 12/31/18 In 2017, 2018 ( (How to save the payment of property tax.) 1/1/17 12/31/17 1/1/18 12/31/18 In 2017 (2017 (1017 interest to record) (To record depreciation)) 1/1/17 12/31/17 1/1/18 12/31/18 In 2017 (To reverse interest).) (How to save the lease payment.) 1/1/17 12/31/17 1/1/18 12/31/18 In 2017, in 2018 ( (How to register the payment of property tax.) 1/1/17 12/31/17 1/18 12/31/18 In 2017 (interest to be registered) (To record depreciation)) Is the question related to false data/reports or figures? .

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