acct 6 - 48,385.00 176,169.00 4 64,400.00 11,177.00...

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Term of Lease 6 years FMV 343,000 Residual Value 61,071 R 10% If Cost=FMV, the lease is called a "direct capital lease". Under direcet capital lease, whether guaranteed or not, the residual is included in the lessor calculations Cost (FMV) 343,000 Less: PV of salvage value 34473 308,527 Annuity Due Factor (10%, 6 year 4.7908 (From present value tables) a Payments: 64,400.00 Total Payments receivable 386,400.00 b Year Lease Pmt Int Redux Liability 1 64,400.00 24,413.00 39,987.00 268,540.00 2 64,400.00 20,414.00 43,986.00 224,554.00 3 64,400.00 16,015.00
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Unformatted text preview: 48,385.00 176,169.00 4 64,400.00 11,177.00 53,223.00 122,946.00 5 64,400.00 5,855.00 58,545.00 64,401.00 6 64,400.00 - 64,400.00 1.00 c Jan 1 2010 Lease Payment Receivable 386,400.00 Equipment on Lease 308,527 Unearned interest revenue 77,873.00 Jan 1 2010 Cash 64,400.00 Lease Payment Receivable 64,400.00 Dec 31 2010 Unearned interest revenue 24,413.00 Interest revenue 24,413.00 Jan 1 2011 Cash 64,400.00 Lease Payment Receivable 64,400.00 Dec 31 2011 Unearned interest revenue 20,414.00 Interest revenue 20,414.00...
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This note was uploaded on 02/21/2012 for the course ACT 492 taught by Professor Ngo during the Fall '11 term at Colorado.

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