Business, 09.03.2021 01:30 nataliam0430
Aldridge Corporation leased a machine on December 31, 2018, for a three-year period. The lease agreement calls for annual payments in the amount of $33,403 on December 31 of each year beginning on December 31, 2018. Aldridge has the option to purchase the machine on December 31, 2021, for $5,076 when its fair value is expected to be $6,900. The appropriate interest rate for this lease is 10%. n/i PV of $1 PV, ordinary annuity PV, annuity due 1 period, 10% .90909 .90909 1.00000 2 periods, 10% .82645 1.73554 1.90909 3 periods, 10% .75131 2.48685 2.73554 . What is the amount to be recorded as a right-of-use asset and the associated lease payable.?
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Aldridge Corporation leased a machine on December 31, 2018, for a three-year period. The lease agree...
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