Current Attempt in Progress

Oriole Corp., which uses IFRS, signs non$-$renewable, non$-$cancellable lease agreement to lease robotic equipment from Pharoah Inc. The following information concerns the lease agreement.

Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE.

$($a$)$

Using $(1)$ factor tables, $(2)$ a financial calculator, or $(3)$ Excel functions, calculate the amount of the right$-$of$-$use asset and lease liability. $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answers to $0$ decimal places, e$.$g$.5,275.)$

The amount of the right$-$of$-$use asset $\backslash$$

Prepare the initial entry to reflect the signing of the lease agreement. $($Round answers to $0$ decimal places, e$.$g$.5,125.$ List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account titles and enter Ofor the amounts.$)$