Exercise Algo Calculation of annual lease payments; residual value LO
Each of the four independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The lessee is aware of the lessor's implicit rate of return.
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
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 rightofuse asset and a lease liability, for each of the above situations.
Note: Round your answers to the nearest whole dollar amount:
tableLease Payments,tableResidual ValueGuaranteetablePV of LeasePaymentstablePV of ResidualValue GuaranteetableRightofuseAssetLeaseLiabilitySituation $$Situation $Situation $$Situation $
