Student Work Area

Required: Provide input into cells shaded in yellow in this template. Use Excel's PV

function with cell references to the Problem area or this work area as indicated.

a$.$ Using Excel function, calculate the amount of the capital lease and prepare

Walla's September $1,2023$ journal entry.

Present value of lease payments

b$.$ Assume instead that Walls follows IFRS and that the amount expected to

be paid under the residual value guarantee is changed as shown here.

New guaranteed residual value $$,10,000$

Calculate the amount of the right$-$of$-$use asset and prepare Walla's

September $2023$ journal entries.

Present value of lease payments