Question: I need help with part ( d ) . Some of my answers are correct - the ones in red are not. Can you help
I need help with part d Some of my answers are correct the ones in red are not. Can you help but provide the answers in the same chart format? I will upvote!
The following facts are for a noncancellable lease agreement between Cullumber Corporation and Russell Corporation, a lessee:
The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties about costs that have not
yet been incurred by the lessor. The lessee assumes responsibility for all executory costs. Both Russell and Cullumber use IFRS
Click here to view the factor table PRESENT VALUE OF
Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE.
b
Calculate the amount of gross investment at the inception of the lease. Round answers to decimal places, e
Gross investment $
c
Your answer is correct.
Calculate the amount of net investment at the inception of the lease. Round factor values to decimal places, eg and final
answers to decimal places, egd
Prepare a lease amortization schedule using a spreadsheet for Cullumber for the fiveyear lease term. Round answ
places, eg
CULLUMBER Leasing Corporation Lessor
Lease Amortization Schedule
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