Question: Please put explanations for the solutions. Thank you. problem 11-6 (IFRS) On January 1, 2022, Bronze Company entered into a lease for floor space with

Please put explanations for the solutions. Thank you. problem 11-6 (IFRS)

Please put explanations for the solutions. Thank you.

problem 11-6 (IFRS) On January 1, 2022, Bronze Company entered into a lease for floor space with the following information: On January 1, 2024, Bronze Company and the lessor agreed to amend the original terms of the lease with the following information: Required: 1. Prepare the amortization schedule for 2022 and 2023. 2. Prepare the journal entries for 2022. 3. Compute the termination gain or loss on January 1, 2024. 4. Remeasure the lease liability on January 1, 2024. 5. Prepare the amortization schedule for 2024,2025 and 2026. 6. Prepare the journal entries for 2024

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