Autove Fle Home Insert Draw Design Layout References Cut Times New Rome 12 Copy Parte BIW A A Aa E- E - - SENT x-A- Format Painter Chand Fort ACT 314-00-Fawm 4-Spring 2002- Search (Ab- Sign in Comments Share Mailings Review View Help AaBbCcDc AJBbCcD: AaBbC AaBbCc AaB ABUCCI AoBbCcD AaBbCcD ACBCCD AsBbCcDc AuBbCCD. AoBbCcD: AABBCCDI Find Replace Edeer -- Paragraph 1 Normal 1 No Spac.. Heading 1 Heading 2 Title Subtitle Subtle Em.. Emphasis Intense E. Strong Quote Intense Q. Subtle Re... Styles Select- Edting Editor 19. Use the following information to answer the questions below. The equipment of lease has 5-year service life with no salvage value. The lease tem is 5 years, requiring equal payment of $48,963.24 at the beginning of year The annual $48,963.24 rental payment includes $1,000 insurance and property taxes per year. The lessee depreciates similar equipment on a straight-line basis. The discount rate is 10%. a) Determine whether the lease is capital lease or operating lease, and why. (4 points) c) Complete the following lease amortization schedule. (25 points) Lease Amortization Schedule Year Lease Payment Executory Costs Interest (10%) Lease-Liability Carrying Lease Reduction Liability 1 2 3 4 5 b) Using the appropriate factor, calculate the present value of lease payments. (3 points) FVF5.10% 1.61031 PVF: 106-63092 FVF-DAS 6.10510 PVE-D45.10%= 3.79079 PVF-AD%, 20% = 4.16986 d) Propere the journal entries at the beginning of lease. (5 points) Page 7 of 9 708 words Text Predictions: On Acuzatilly: Investigate Type here to search W e) Prepare the journal entries at the end of Year 1 (at the beginning of Year 2). (6 points) m 77F Partly sunny 100% 8:05 PM A 4 5/3/2002