Refer to the following lease amortization schedule. the 10 payments are made annually starting with the beginning of the lease. title does not transfer to the lessee and there is no purchase option or guaranteed residual value. the asset has an expected economic life of 12 years. the lease is noncancelable. payment cashpayment effectiveinterest decreasein balance balance63,2821 10,000 10,000 53,2822 10,000 6,394 3,606 49,6763 10,000 5,961 4,039 45,6384 10,000 5,477 4,523 41,1145 10,000 4,934 5,066 36,0486 10,000 4,326 5,674 30,3737 10,000 3,645 6,355 24,0188 10,000 2,882 7,118 16,9019 10,000 ? ? ? 10 10,000 ? ? ? a) what is the effective annual interest rate? 12%.9%.11%.10%.b)what would the lessee record as annual amortization on the right-of-use asset using the straight-line method? $5,328.$6,328.$6,392.$10,000.c) what is the outstanding balance after payment 9? $5,000.$5,537.$8,929.$13,463.
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Refer to the following lease amortization schedule. the 10 payments are made annually starting with...
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