Question: AC 313 Excel Assignment #1 Spring 2018- Due March 6, 2018 Requirement: Use the following information to prepare a lease amortization schedule for the lessee,

AC 313 Excel Assignment #1 Spring 2018- Due March 6, 2018

AC 313 Excel Assignment #1 Spring 2018- Due March 6, 2018 Requirement: Use the following information to prepare a lease amortization schedule for the lessee, assuming that it is a capital lease. American Food Services, Inc., leased a packaging machine from Barton Corporation on January 1, 2018. The present value of the rent payments for the machine is $4,000,000, which will be paid in 48 equal monthly payments starting on January 1, 2018. There are no other payments stated in the lease agreement. An interest rate of 10% should be used to calculate the rent payments

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Create a capital budgeting analysis in Excel. Please work on an Excel spreadsheet to conduct a capital budgeting analysis for the following project: Tornado Motors is a major producer of sport and...

AC 313 Intermediate Accounting III, Spring 2021 Excel Project III Statement of Cash Flow Learning Objectives 1. Analyze statement of cash flows 2. Calculate key financial ratios 3. Interpret key...

Cash LO2 BRIEF EXERCISE 10.1 Jacobs Company borrowed $1,000,000 on a one-year, percent note payable from the local bank on 1 April. Interest was paid quarterly, and the note was re- paid one year...

Please read the attachment chapters and answer the following questions with at least 50 words. Depreciation discussion What are the various methods of determining depreciation and amortization...

Paste K14 Narrative and Instructions 1 3 Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized 4 in 1981, under the laws of the State of Illinois, with an...

Question 1 Presented below is the condensed financial statements of ABC Ltd. for the year ended March 31, 2010. a) Provide a definition for the term current liability. (Refer to the relevant standard...

Record all necessary month-end adjusting entries. First, review the summary general ledger and identify accounts that could need adjusted because the related activity during the month was not...

Narrative and Instructions Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an authorized...

Hi again. Please help me once more with my study information. I have provided three assignments. Let me know if you need additional information. \fFINANCIAL AND MANAGERIAL ACCOUNTING - Fifth Edition...

Write Lewis formulas for the following: a. AlI3 b. BeCl2 c. BeF3

In a certain community, 36 percent of the families own a dog and 22 percent of the families that own a dog also own a cat. In addition, 30 percent of the families own a cat. What is (a) The...

[ - / 3 Points ] LARCALC 1 2 2 . 3 . 0 9 7 . Find the second derivative of the function. f ( x ) = x x - 9 f ' ' ( x ) = Need Help? Show My Work ( Optional )

Sisson Corporation reports operating expenses of $80,000 excluding depreciation expense of $15,000 for 2017. During the year, prepaid expenses decreased $6,600 and accrued expenses payable increased...

On January 1, 2021, Stoops Entertainment purchases a building for $610,000, paying $110,000 down and borrowing the remaining $500,000, signing a 9%, 15-year mortgage. Installment payments of...

Cooke NV has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below. Instructions a. Prepare a complete worksheet. b. Prepare a classified statement...

Consider a soap bubble 2 mm in diameter and a droplet of water, also 2 mm in diameter. If the value of the surface tension for the film of the soap bubble is assumed to be the same as that for water,...

Solve the following differential equations using Laplace transform A d2y (t)/dt2 + 2dy(t)dt +y (t) =e-2t, y (0) = y t (0) = 0 A d2y (t)/dt2 + 4dy (t)/dt) +4y (t) =u(t), y (0) 0;y (0) = 1

Q . 6 How do you differentiate between leader and manager in the organization?

What are some guidelines to follow regarding religion-related discrimination?

What is the ratio of the female selection rate to the male selection rate?

What would you do?