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Unformatted text preview: eas ed high-tec h elec tronic equipment to Manufac turers Southern on January 1, 2013.
Edis on purc has ed the equipment from International Mac hines at a c os t of $112,080. (FV of $1, PV of $1, FV A
of $1, PV A of $1, FV A D of $1 and PV A D of $1) (Use a ppropri a te fa ctor(s) from the ta bl e s provi de d. )
Re la te d Inform a tion:
Leas e term
2 y ears (8 quarterly periods )
Quarterly rental pay ments
$15,000 at the beginning of eac h period
Ec onomic life of as s et
2 y ears
Fair value of as s et
Implic it interes t rate
(Als o les s ee’s inc remental borrowing rate)
Re quire d:
Prepare a leas e amortiz ation s c hedule and appropriate entries for Edis on Leas ing from the inc eption of the
leas e through January 1, 2014. Edis on’s fis...
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This homework help was uploaded on 03/22/2014 for the course ACC 3000 taught by Professor He during the Fall '09 term at CUNY Baruch.
- Fall '09