On January 1, 2024, Nath-Langstrom Services, Incorporated, a computer software training firm, leased several computers under...

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On January 1, 2024, Nath-Langstrom Services, Incorporated, a computer software training firm, leased several computers under a two- year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual Interest rate of 4%. The contract calls for four rent payments of $10,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $90,000 and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semiannually. Note: Use tables, Excel, or a financial calculator. (FV of $1. PV of $1. FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Required: 1. Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. 2. Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 st 4 5 Record the beginning of the lease for Nath-Langstrom Services. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit > Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 2 3 4 5 Record the lease payment made by Nath-Langstrom Services. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev Next Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 4 5 Record amortization for Nath-Langstrom Services. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev 1 of 1 Next Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Round your intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 5 Record the lease payment made by Nath-Langstrom Services. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit A Prev 1 of 1 Next 201 Principles of N X M Question 1-Class 9 Ch. 15 L x heducation.com/ext/map/index.html?_con con&external browser=0&launchUrl=https%253A5 .15 Leases i Saved Fnewconnect.mheducation Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 4 Record amortization for Nath-Langstrom Services. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit 5 Leases Saved Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet 2 3 4 5 Record the beginning of the lease for ComputerWorld Leasing. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit > Prev 1 of 1 Next Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Row Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet 1 N 2 3 4 5 Record the lease payment received by ComputerWorld Leasing. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prov Mait Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. ( Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 4 5 Record depreciation for ComputerWorld Leasing. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev 1 of 1 Next Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Rour Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 5 Record the lease payment received by ComputerWorld Leasing. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Prey 1 of 1 Next 5 Leases Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Rout intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 4 Record depreciation for ComputerWorld Leasing. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Prev 1 of Next On January 1, 2024, Nath-Langstrom Services, Incorporated, a computer software training firm, leased several computers under a two- year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual Interest rate of 4%. The contract calls for four rent payments of $10,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $90,000 and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semiannually. Note: Use tables, Excel, or a financial calculator. (FV of $1. PV of $1. FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Required: 1. Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. 2. Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 st 4 5 Record the beginning of the lease for Nath-Langstrom Services. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit > Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 2 3 4 5 Record the lease payment made by Nath-Langstrom Services. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev Next Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 4 5 Record amortization for Nath-Langstrom Services. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev 1 of 1 Next Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Round your intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 5 Record the lease payment made by Nath-Langstrom Services. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit A Prev 1 of 1 Next 201 Principles of N X M Question 1-Class 9 Ch. 15 L x heducation.com/ext/map/index.html?_con con&external browser=0&launchUrl=https%253A5 .15 Leases i Saved Fnewconnect.mheducation Required 1 Required 2 Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 4 Record amortization for Nath-Langstrom Services. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit 5 Leases Saved Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. (Round your Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet 2 3 4 5 Record the beginning of the lease for ComputerWorld Leasing. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit > Prev 1 of 1 Next Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Row Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet 1 N 2 3 4 5 Record the lease payment received by ComputerWorld Leasing. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prov Mait Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. ( Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 4 5 Record depreciation for ComputerWorld Leasing. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev 1 of 1 Next Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Rour Intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 5 Record the lease payment received by ComputerWorld Leasing. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Prey 1 of 1 Next 5 Leases Required 1 Required 2 Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. (Rout intermediate calculations and final answers to the nearest whole dollar. View transaction list Journal entry worksheet < 1 2 3 4 Record depreciation for ComputerWorld Leasing. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Prev 1 of Next