Question: ivi 25 * Solve the following problems in a single Lease schedule and indicate th answers to each question Syed Inc enters into a 5-year

 ivi 25 * Solve the following problems in a single Lease

ivi 25 * Solve the following problems in a single Lease schedule and indicate th answers to each question Syed Inc enters into a 5-year lease beginning on April 1, 2022. Annual payments are $35,000, made at the end of each year for a total of RM175,000 over the lease term. The rate implicit in the lease is 8%. Assuming this is an operating Lease. a. Compute the initial lease Liability and Right-of-use asset balance assuming there are no initial costs. (5 Marks) b. In the continuity schedule, how much is the Right-of-use Asset ending balance in 2025? (5 Marks) c. In the continuity schedule, how much is the Lease Liability ending balance of 2023 ? (5 Marks) d. On the Journal entries, how much is the accumulated Amortization figure for 2024 (5 Marks) e. How much is the interest in 2023? (5 Marks) (show all workings)

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