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  1. business
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  3. each of the four independent situations below desc

Each of the four independent situations below describes a finance lease in which annual lease...

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Accounting

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Each of the four independent situations below describes a finance lease in which annual lease payments are payable at the beginning ssee is aware of the lessor's implicit rate of return. (FV of $1, PV of $1. FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) situation Lease ten years) Lessor's rate of return Teir value of lease asset Lessor's cost of lease asset Residual values Estimated fair value Guaranteed tair value 100 $65,000 $65,000 $365,000 $365,000 98 $90,000 $60,000 $480,000 $400,000 0 $ 65,000 0 $22,000 $22,000 $ 34,000 $39,000 Required: a. & b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would record as a right-of-use asset and a lease liability, for above situations. (Round your PV factor answers to 5 decimal places and other answer to nearest whole dollar.) Answer is complete but not entirely correct. PV of PV of Residual Lease Payments Residual Val Garant Right-of-use Asset/Lease Lab Payment 65.000 3 15588 Guarantee 0 5 $ 65.000 015 0 5 336.797 S 336797 15.723 S S 76 88035 3999 59.927 $ 5,000 $ 467.742 $ 451.800

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