See attached 5 accounting questions. Please fill in all the blanks

1. At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a eight-year operating lease agreement. The contract calls for quarterly rent payments of $26,000 each. The office building was acquired by Lakeside at a cost of $2.1 million and was expected to have a useful life of 30 years with no residual value. What will be the effect of the lease on LTT's earnings for the first year (ignore taxes)? LTT: ________________(increase/reduce) its earning by: ___________(Amount) 2. A lease agreement that qualifies as a capital lease calls for annual lease payments of $20,000 over a five-year lease term, with the first payment at January 1, the lease's inception. The interest rate is 4% (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.) Complete the amortization schedule for the first two payments. 3 4 5