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Category > Business & Finance Posted 31 May 2017 My Price 4.00

Financial Statement Impact of a Lease Benjamin’s Warehouse signed

Financial Statement Impact of a Lease Benjamin’s Warehouse signed a six-year capital lease on January 1, 2010, with payments due every December 31. Interest is calculated annually at 10%, and the present value of the minimum lease payments is $13,065. 

Required
1. Calculate the amount of the annual payment that Benjamin’s must make every December 31.
2. Calculate the amount of the lease obligation that would be presented on the December 31, 2011, balance sheet (after two lease payments have been made).

Answers

Alpha Geek
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Status NEW Posted 31 May 2017 06:05 AM My Price 4.00

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file 1496211248-Answer.docx preview (113 words )
F-----------ina-----------nci-----------al -----------Sta-----------tem-----------ent----------- Im-----------pac-----------t o-----------f a----------- Le-----------ase----------- Be-----------nja-----------min-----------’-----------s W-----------are-----------hou-----------se -----------sig-----------ned----------- a -----------six------------ye-----------ar -----------cap-----------ita-----------l l-----------eas-----------e o-----------n J-----------anu-----------ary----------- 1,----------- 20-----------10,----------- wi-----------th -----------pay-----------men-----------ts -----------due----------- ev-----------ery----------- De-----------cem-----------ber----------- 31-----------. I-----------nte-----------res-----------t i-----------s c-----------alc-----------ula-----------ted----------- an-----------nua-----------lly----------- at----------- 10-----------%, -----------and----------- th-----------e p-----------res-----------ent----------- va-----------lue----------- of----------- th-----------e m-----------ini-----------mum----------- le-----------ase----------- pa-----------yme-----------nts----------- is----------- $1-----------3,0-----------65.----------- R-----------equ-----------ire-----------d: ----------- 1.----------- Ca-----------lcu-----------lat-----------e t-----------he -----------amo-----------unt----------- of----------- th-----------e a-----------nnu-----------al -----------pay-----------men-----------t t-----------hat----------- Be-----------nja-----------min-----------’-----------s m-----------ust----------- ma-----------ke -----------eve-----------ry -----------Dec-----------emb-----------er -----------31.-----------2. -----------Cal-----------cul-----------ate----------- th-----------e a-----------mou-----------nt -----------of -----------the----------- le-----------ase----------- ob-----------lig-----------ati-----------on -----------tha-----------t w-----------oul-----------d b-----------e p-----------res-----------ent-----------ed
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