Rumstelo Corporation leased a machine on December for a three year period. The lease agreement calls tor annual
payments in the amount of $ on December of each year beginning on December Rumsteld has the cption to
purchase the machine on December for $ when its fair value is expected to be $ The machine's estimatec
useful life is expected to be six years with no residual value. The appropriate interest rate for this lease is
Required:
Calculate the amount to be recorded as a rightofuse asset and the associated lease liability.
Prepare an amortization schedule for this lease.
Complete this question by entering your answers in the tabs below.
Calculate the amount to be recorsied as a rightotuse asset and the assoclated lease liahility.
Note: Round your lintermadlate calculations and flnal answer to the nearest whole dollar amoints.
HightCtLa zesaty I AaA payalala
Required
Required
Prepare an amortization schedule for this lease.
Note: Round your intermediate calculations and final answers to the nearest whole dollar amounts.
