8. How much interest income should Edward recognized in its December 31, 2022 statement of comprehensive income? 165,130 111,968 139,186 125,942 15. Assuming that the lease is a sales type lease and the cost of the asset is P2.500,000 and the residual value is unguaranteed, how much is the balance of lease receivable as of December 31, 2022 and the gross profit? P2,686,921 and P799,681 P2,917,291and P632,161 P2,739,722 and P799,681 P2,955,789 and P632,161
On January 1, 2022, Edward Corporation (lessor) enters into a ten-year lease of equipment to Kirk Corporation (lessee). The equipment has estimated useful life of 15 years. Lease payments are P380,000 per year all payable at the beginning of each year. The fair value of the leased asset on this date P3.132.161. The rate implicit in the lease is 6%. Kirk Guaranteed a residual value of P300,000.
8. How much interest income should Edward recognized in its December 31, 2022 statement of comprehensive income?
165,130
111,968
139,186
125,942
15. Assuming that the lease is a sales type lease and the cost of the asset is P2.500,000 and the residual value is unguaranteed, how much is the balance of lease receivable as of December 31, 2022 and the gross profit?
P2,686,921 and P799,681
P2,917,291and P632,161
P2,739,722 and P799,681
P2,955,789 and P632,161
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