Assuming That This Is Classified as an Operating Lease, Create

question 145

Essay

Assuming that this is classified as an operating lease, create an amortization table for periodic interest and reduction in the liability.
Periodic Interest and Reduction in the Liability
$$\begin{array} { | l | l | l | l | l | } \hline& & & \text { Reduction in } & \\& \text { Payment } & \text { Interest } & \text { Lease Liability } & \text { Balance } \\\hline & & & & \\\hline \text { Lease commencement: } 1 / 1 / 2019 & & & & \\\hline 1 / 1 / 2020 & & & & \\\hline 1 / 1 / 2021 & & & & \\\hline 1 / 1 / 2022 & & & & \\\hline 1 / 1 / 2023 & & & & \\\hline\end{array}$$

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Definitions:

Ions

Atoms or molecules that have lost or gained one or more electrons, thus acquiring an electric charge.

Respective Charges

The specific electrical charges on particles or objects, usually defined as positive or negative, which determine their electromagnetic interactions.

Solvent

A substance, typically a liquid, capable of dissolving other substances to form a solution.

Water

A colorless, tasteless, and odorless substance essential for most plant and animal life and the most widely used solvent.