On 1/1//2015, XYZ leases a machine from Super LeaseCo for four years. At the end of the lease term, title passes to XYZ. Payment

Question

2 years ago

7

On 1/1//2015, XYZ leases a machine from Super LeaseCo for four years. At the end of the lease term, title passes to XYZ. Payment

s of $4,000 are made at the BEGINNING of each year 1/1/2015, 12/31/15, 12/31/16, AND 12/31/17). The machine has a useful life of 6 years, with no salvage value. XYZ uses straight-line amortization. Lessee interest rates is 6%. Fair value of machine is $14,692 which is the price that Super LeaseCo. paid for the machine. Assumption 1 - Record all required entries for XYZ for 2015-2020.

Business

1 answer:

MaRussiya [10] · Answer 1 · 2022-05-31T07:21:27+03:00

MaRussiya [10]2 years ago

4 0

Answer

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Explanation

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