Exercise Static Lessee; operating lease L
Baillie Power leased hightech electronic equipment from Courtney Leasing on January Courtney purchased the equipmen
from Doane Machines at a cost of $ its fair value.
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
Prepare a lease amortization schedule and appropriate entries for Baillie Power from the beginning of the lease through December
December is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter.
Answer is not complete.
Complete this question by entering your answers in the tabs below.
Amortization
Schedule
General
Journal
Prepare appropriate entries for Baillie Power from the beginning of the lease through December December is the
fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Round your
intermediate calculations and final answers to the nearest whole dollar.
