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BNM Itd. Acquired on asset of Rs.440,000 through a finance lease agreement on 1-1-2018 with...

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Accounting

BNM Itd. Acquired on asset of Rs.440,000 through a finance lease agreement on 1-1-2018 with no residual value. The lease term is five years with annual lease rentals of Rs.100,000 payable at the start of each year. The implicit rate of interest is 10%.
Calculate:
a. Gross investment in lease
b. Net investment in lease
c. Unearned finance income
d: Lease amortization schedule
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