d Chrome File Edit View Bookmarks Proles Tab Window Help ' .. SunSep117i15PM History . . 6 Lesson 8: Accounting for Leas x a Lesson 2: Review of Accountin X I 9 Lesson 1: Financial Reporting 'l X 3 Suppose you are employed as X I + v 6 9 C 6 riosalado.coursearc.com/content/acc220inv'l/lesson8-accountingfor|eases/assignments E) {I A RioLearn: Lesson 8 Case Study 1. Download the Lesson 8 Case Study Excel spreadsheet. Use the information to complete the assignment. Scenario Suppose you are employed as the Director of Finance within the Hanson Group, and the following lease agreement was signed by your employer. You must determine what type of lease was signed (i.e., operating, nance, etc.). 2. Answer the following questions in the provided template. Case Study Questions a. Explain your answer by showing the steps taken to determine the classication. b. Determine how to record the lease by answering the questions from Group I or 11 criteria in this lesson. When reviewing the economic life test, the useful life for the vehicle is 7 years. c. If an amortization schedule is needed, create one on the tab labeled in the Excel spreadsheet with 3% interest. If you believe that you do not need to create an amortization schedule, wrote "none required" on that tab. (1. Create your journal entry for how to record the lease in the nancial statements for the calendar year 2021. You are in the process of closing the period for July 2021. Submit your assignment, which is Lesson 8 Case Study in the Gradebook