On June 30,2024, Georgia-Atlantic, Incorporated leased warehouse equipment from Builders, Incorporated The lease agreement calls...
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On June GeorgiaAtlantic, Incorporated leased warehouse equipment from Builders, Incorporated The lease agreement calls for GeorgiaAtlantic to make semiannual lease payments of $ over a year lease term also the asset's useful life payable each June and December with the first payment on June GeorgiaAtlantic's incremental borrowing rate is the same rate Builders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $ million. Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $ Required: Determine the price at which Builders is "selling" the equipment present value of the lease payments on June What amount related to the lease would Builders report in its balance sheet on December ignore taxes What line item amounts related to the lease would Builders report in its income statement for the year ended December ignore taxes Note: For all requirements, enter your answers in whole dollars and not in millions. Round the intermediate calculation and final answers to the nearest whole dollar.
On June GeorgiaAtlantic, Incorporated leased warehouse equipment from Builders, Incorporated The lease agreement calls for GeorgiaAtlantic to make semiannual lease payments of $ over a year lease term also the asset's useful life payable each June and December with the first payment on June GeorgiaAtlantic's incremental borrowing rate is the same rate Builders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $ million. Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
Determine the price at which Builders is "selling" the equipment present value of the lease payments on June
What amount related to the lease would Builders report in its balance sheet on December ignore taxes
What line item amounts related to the lease would Builders report in its income statement for the year ended December ignore taxes
Note: For all requirements, enter your answers in whole dollars and not in millions. Round the intermediate calculation and final answers to the nearest whole dollar.
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