Question: Problem 2.2: Chapter 21 - Leases (12 points) Using all of the information provided in Problem 2.1, answer the below questions for Diana Prince. REQUIRED:

Problem 2.2: Chapter 21 - Leases (12 points)

Using all of the information provided in Problem 2.1, answer the below questions for Diana Prince.

REQUIRED: Answers the following for Diana Prince: (PLEASE CLEARLY SHOW AND LABEL YOUR WORK)

2.2.1 [1 pt] What is the classification of this lease and why?

2.2.2 [5 pts] What is the journal entry for January 1, 2020?

2.2.3 [2 pts] What is the journal entry for December 31, 2020?

2.2.4 [2 pts] What is the journal entry for January 1, 2021?

2.2.5 [2 pts] What is the journal entry for December 31, 2021?

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