Instructions:

In good form, using Excel, create the required items.

The instructions (and input area) may be at the top of the spreadsheet.

For a good document:

Make your work easily understandable to client and boss,

Set the layout and print so the workbook will print as you wish the client to receive the document.

Be accurate.

Good form includes:

Labels on left, Amounts on the right

No amount without a label

Now that you have created the template, it is time to assess how well the spreadsheet functions by using the information. Try the two homework problems to see if your spreadsheet works.

(Connect #6) Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $112,080

Related Information:
Lease term	2 years (8 quarterly periods)
Quarterly rental payments	$15,000 at the beginning of each period
Economic life of asset	2 years
Fair value of asset	$112,080
Implicit interest rate	8%
(Also lessees incremental borrowing rate)

(Connect #11) On December 31, 2021, Yard Art Landscaping leased a delivery truck from Branch Motors. Branch paid $40,000 for the truck. Its retail value is $45,114. The lease agreement specified annual payments of $11,000 beginning December 31, 2021, the beginning of the lease, and at each December 31 through 2024. Branch Motors interest rate for determining payments was 10%. At the end of the four-year lease term (December 31, 2025) the truck was expected to be worth $15,000. The estimated useful life of the truck is five years with no salvage value. Both companies use straight-line amortization or depreciation.