Question: Using Excel to Account for Leases PROBLEM Walla Corporation, which uses ASPE, enters into a six - year lease of equipment on September 1 ,
Using Excel to Account for Leases PROBLEM Walla Corporation, which uses ASPE, enters into a sixyear lease of equipment on September that requires annual payments beginning September In addition, Walla guarantees the lessor a residual value at lease end. Amount of annual lease payments Guaranteed residual value Lease term in years Useful life of equipment in years Interest rate 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 journal entry.
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