Question 1 - Exercises 15-12, 1 x ) Present value of an ordinary an x Homework Help - Q&A from Or x + A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEPvk3nQmNfx78lvQCCQOYt8CqK4Rd0Axtwrjv... * # 2 Update Apps 9 1 YouTube G Gmail Cosmopolitan Error Reading List Exercises 15-12, 15-13, and 15-14 i Saved Help Save & Exit Submit Check my work At January 1, 2021, Cafe Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $26,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2028. The equipment was acquired recently by Crescent at a cost of $180,000 (its fair value) and was expected to 5 have a useful life of 12 years with no salvage value at the end of its life. (Because the lease term is only 9 years, the asset does have points an expected residual value at the end of the lease term of $21,925.) Crescent seeks a 9% return on its lease investments. By this arrangement, the lease is deemed to be a finance lease. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use Skipped appropriate factor(s) from the tables provided. Round your intermediate calculations to the nearest whole dollar amount.) Required: 1. What will be the effect of the lease on Cafe Med's earnings for the first year (ignore taxes)? (Enter decreases with negative sign.) Book 2. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Cafe Med (ignore taxes)? (For all requirements, round your intermediate calculations and final answers to the nearest whole dollar.) Hint 1. Effect on earnings 2. Lease payable balance (end of year) Print Right-of-use asset balance (end of year) In References Mc Graw Prey. 1 of 3 Next >Question 2 - Exercises 15-12, 1 x Present value of an ordinary an x Homework Help - Q&A from Or x + A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEPvk3nQmNfx78lvQCCQOYt8CqK4Rd0Axtwrjv... * # 2 Update Apps 9 1 YouTube G Gmail Cosmopolitan Error Reading List Exercises 15-12, 15-13, and 15-14 i Saved Help Save & Exit Submit Check my work 2 At January 1, 2021, Cafe Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $27,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2028. The equipment was acquired recently by Crescent at a cost of $189,000 (its fair value) and was expected to 5 have a useful life of 13 years with no salvage value at the end of its life. (Because the lease term is only 9 years, the asset does have an points expected residual value at the end of the lease term of $42,341.) Crescent seeks a 10% return on its lease investments. By this arrangement, the lease is deemed to be an operating lease. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use Skipped appropriate factor(s) from the tables provided.) Required: 1. What will be the effect of the lease on Cafe Med's earnings for the first year (ignore taxes)? (Enter decreases with negative sign.) Book 2. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Cafe Med (ignore taxes)? (For all requirements, round your intermediate calculations and final answers to the nearest whole dollar.) Hint 1. Effect on earnings Print 2. Lease payable balance (end of year) Right-of-use asset balance (end of year) References Mc Graw Question 3 - Exercises 15-12, 1 x _ Present value of an ordinary an x Homework Help - Q&A from Or x + A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEPvk3nQmNfx78lvQCCQOYt8CqK4Rd0Axtwrjv... * # 2 Update Apps 9 1 YouTube G Gmail Cosmopolitan ) Error Reading List Exercises 15-12, 15-13, and 15-14 i Saved Help Save & Exit Submit Check my work 3 At January 1, 2021, Cafe Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $30,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2028. The equipment was acquired recently by Crescent at a cost of $225,000 (its fair value) and was expected to 5 have a useful life of 13 years with no salvage value at the end of its life. Crescent records depreciation using the straight-line method. points Crescent seeks a 12% return on its lease investments. By this arrangement, the lease is deemed to be an operating lease. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Skipped Required: Book 1. What will be the effects of the lease on Crescent's earnings for the first year (ignore taxes)? (Enter decreases with negative numbers.) 2. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Crescent (ignore taxes)? (For all requirements, round your intermediate calculations to the nearest whole dollar amount.) Print References 1 Effect on earnings 2 Equipment balance (net, end of year) Deferred lease revenue Mc Graw