A finance lease agreement calls for quarterly lease payments of $7,728 over a 10-year lease term,...

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A finance lease agreement calls for quarterly lease payments of $7,728 over a 10-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 12%. Both the present value of the lease payments and the cost of the asset to the lessor are $184,000. Required: a. Prepare a partial amortization table up to the October 1 payment. b. What would be the amount of interest expense (revenue) the lessee (lessor) would record in conjunction with the second quarterly payment on October 1? Complete this question by entering your answers in the tabs below. Required A Required B Prepare a partial amortization table up to the October 1 payment. (Enter all amounts as positive values. Round your answers to the nearest whole dollar.) Lease Effective Decrease in balance Outstanding balance Date Payment Interest July 1 July 1 October 1 Required A Required B What would be the amount of interest expense (revenue) the lessee (lessor) would record in conjunction with the second quarterly payment on October 1? (Round your answers to the nearest whole dollar.) Interest expense (Lessee) Interest revenue (Lessor) At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a ten-year operating lease agreement. The contract calls for quarterly rent payments of $27,000 each. The office building was acquired by Lakeside at a cost of $2.2 million and was expected to have a useful life of 25 years with no residual value. What will be the effect of the lease on LTT's earnings for the first year (ignore taxes)? (Enter your answer in whole dollars.) LTT its earnings by A finance lease agreement calls for quarterly lease payments of $7,728 over a 10-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 12%. Both the present value of the lease payments and the cost of the asset to the lessor are $184,000. Required: a. Prepare a partial amortization table up to the October 1 payment. b. What would be the amount of interest expense (revenue) the lessee (lessor) would record in conjunction with the second quarterly payment on October 1? Complete this question by entering your answers in the tabs below. Required A Required B Prepare a partial amortization table up to the October 1 payment. (Enter all amounts as positive values. Round your answers to the nearest whole dollar.) Lease Effective Decrease in balance Outstanding balance Date Payment Interest July 1 July 1 October 1 Required A Required B What would be the amount of interest expense (revenue) the lessee (lessor) would record in conjunction with the second quarterly payment on October 1? (Round your answers to the nearest whole dollar.) Interest expense (Lessee) Interest revenue (Lessor) At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a ten-year operating lease agreement. The contract calls for quarterly rent payments of $27,000 each. The office building was acquired by Lakeside at a cost of $2.2 million and was expected to have a useful life of 25 years with no residual value. What will be the effect of the lease on LTT's earnings for the first year (ignore taxes)? (Enter your answer in whole dollars.) LTT its earnings by

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