Leassee acounting-capital lease rental payments of 219000

Reference no: EM13598536

Leassee acounting-capital lease. rental payments of $219,000 including 19,000 for property taxes, payable at the beginning of each six-month period. What are the minumum lease payments? What is the present value of the minimum lease payments? (PV factor for annuity due of 20 semi-annual payments at 8% annual rate, 1.13394; PV factor for amount due in 20 interest periods at 8% annual rate,.45639.) Round to nearest dollar. What journal entries would Forbes record during the first year of the lease? (include an amortization schedule through 1/1/09 and round to the nearest dollar.

Reference no: EM13598536

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