Ch 21 2008 - Chapter 21 Leases Lanny Chasteen 2007 E211 A B C Capital Lease PV of $8,668 PMT Leases Lease Liability Lease Liability Cash

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Chapter 21 - Leases Lanny Chasteen 2007 E21 1 A) Capital Lease B) PV of $8,668 PMT $36,144 C) 1/1/2007 Leases 36,144 Lease Liability 36,144 12/31/2007 Lease Liability 8,668 Cash 8,668 12/31/2007 Depreciation Expense 7,229 Accumulated Depreciation 7,229 12/31/2007 Interest Expense 2,748 Interest Payable 2,748 1/1/2008 Lease Liability 5,920 Interest Payable 2,748 Cash 8,668 E21 8 A) Capital Lease B) Capital Lease C) PV of Lease Obligation 21,227.65 x 4.16986 $88,516 PV of Bargain Purchase 4,000 x .62092 $2,484 Lease Liability $91,000 LIAB. O/S INTEREST LIABILITY Period Lease Payment FOR YR. EXPENSE EOY 91,000 May-07 21,227.65 69,772.35 6,977.24 76,749.59 May-08 21,227.65 55,521.94 5,552.19 61,074.13 May-09 21,227.65 39,846.48 3,984.65 43,831.13 May-10 21,227.65 22,603.48 2,260.35 24,863.82 May-11 21,227.65 3,636.17 363.62 3,999.79 4/30/2011 4,000 (0) (0) (0) 110,138 19,138 5/1/2007 Leased Equipment under Capital Leases 91,000 $ Lease Liability 91,000 $ Lease Liability 21,227.65 Cash
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This note was uploaded on 04/18/2008 for the course ACCT 3113 taught by Professor Chasteen during the Spring '08 term at Oklahoma State.

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Ch 21 2008 - Chapter 21 Leases Lanny Chasteen 2007 E211 A B C Capital Lease PV of $8,668 PMT Leases Lease Liability Lease Liability Cash

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