Prepare amortization table for the lease

Assignment Help Financial Accounting

Reference no: EM132711640

Company A started at the beginning of 2019.
They entered into a lease with Jan 1st as both inception and commenment date
The Lease term is as below
- 5 yr non-cancellable
- 5% interest rate
- equal payment of $22916.51 at the end of each year
- $1,000 bargining purchase option at the end of lease term
Useful life of this asset is 6 years with 0 residual value

Tax rate 25%, 30% and 35% each of the year

Earnings before interest, amortization and taxes for each year
2019 $1,23,456
2020 $2,34,567
2021 $3,45,678

Requests
a) Prepare amortization table for the lease
b) Record all related Jes
c) Complete the balance sheet

Attachment:- project.rar

Reference no: EM132711640

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