Business, 11.11.2019 22:31, brandon1888

On june 30, 2018, georgia-atlantic, inc., leased a warehouse facility from ic leasing corporation. the lease agreement calls for georgia-atlantic to make semiannual lease payments of $562907 over a three-year lease term, payable each june 30 and december 31, with the first payment at june 30, 2018. georgia-atlantics incremental borrowing rate is 10%, the same rate ic uses to calculate lease payment amounts. depreciation is recorded on a straight-line basis at the end of each fiscal year. the fair value of the warehouse is $3 million. 1. determine the present value of the lease payments at june 30, 2018 that georgia- atlantic uses to record the right-of-use asset and lease liability. 2. what pretax amounts related to the lease would georgia-atlantic report in its balance sheet at december 31, 2018? (pretac amount for liability and right of use asset) 3. what pretax amounts related to the lease would georgia-atlantic report in its income statement for the year ended december 31,2018? (pretax amount interest expense and amortization expense) 4. pretax amount of net receivables? 5.pretax amount of interest revenue?

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On june 30, 2018, georgia-atlantic, inc., leased a warehouse facility from ic leasing corporation. t...