Please Complete Answer Thanks BBB Leasing purchased a machine for $280,000 and leased it to Jack Tupp Auto Repair on January2021.Lease description:Quarterly rental paymentsLease termNo residual value; no BPOEconomic life of machineImplicit interest rateFair value of assetWhat is the balance in the lease payable account after the April 1, 2021, lease payment?A) $275,387.B) $263,573.C) $251,759.D) $360,344..4) Blue Co. recorded a right-of-use asset of $200,000 in a 10-year operating lease. Payments of $28,476are made annually at the end of each year. The interest rate charged by the lessor was 7% and wasknown by Blue. The balance in the right-of-use asset after two years will be:A) $242,952.B) $170,035.C) $171,048.D) $200,000.$16,427 at beginning of each period5 years (20 quarters)15) Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1,2021. The manufacturing cost of the computers was $12 million.This noncancelable lease had the following terms:Lease payments: $2,466,754 semiannually; first payment at January 1, 2021; remaining payments atJune 30 and December 31 each year through June 30, 2025.Lease term: five years (10 semiannual payments).No residual value; no purchase option..5 years7%$280,000..Economic life of equipment: five years.Implicit interest rate and lessee's incremental borrowing rate: 5% semiannually.Fair value of the computers at January 1, 2021: $20 million.What is the interest revenue that Technoid would report for this lease in its 2021 income statement?A) $1,673,820.B) SO.C) $876,662.D) None of these answer choices is correct. 13) BBB Leasing purchased a machine for $280,000 and leased it to Jack Tupp Auto Repair on January 1,2021.Lease description:Quarterly rental paymentsLease termNo residual value; no BPOEconomic life of machineImplicit interest rateFair value of assetWhat is the balance in the lease payable account after the April 1, 2021, lease payment?A) $275,387.B) $263,573.C) $251,759.D) $360,344..14) Blue Co. recorded a right-of-use asset of $200,000 in a 10-year operating lease. Payments of $28,476are made annually at the end of each year. The interest rate charged by the lessor was 7% and wasknown by Blue. The balance in the right-of-use asset after two years will be:A) $242,952.B) $170,035.C) $171,048.D) $200,000.15) Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1,2021. The manufacturing cost of the computers was $12 million.This noncancelable lease had the following terms:Lease payments: $2,466,754 semiannually; first payment at January 1, 2021; remaining payments atJune 30 and December 31 each year through June 30, 2025.Lease term: five years (10 semiannual payments).No residual value; no purchase option.Economic life of equipment: five years.Implicit interest rate and lessee's incremental borrowing rate: 5% semiannually.Fair value of the computers at January 1, 2021: $20 million..$16,427 at beginning of each period5 years (20 quarters).5 years7%$280,000..What is the interest revenue that Technoid would report for this lease in its 2021 income statement?A) $1,673,820.B) SO.C) $876,662.D) None of these answer choices is correct.

BBB Leasing purchased a machine for $280,000 and leased it to Jack Tupp Auto Repair on January 2021. Lease description: Quarterly rental payments Lease term No residual value; no BPO Economic life of machine Implicit interest rate Fair value of asset $16,427 at beginning of each period 5 years (20 quarters) C) $251,759. D) $360,344. 5 years 7% $280,000 What is the balance in the lease payable account after the April 1, 2021, lease payment? A) $275,387. B) $263,573. =) Blue Co. recorded a right-of-use asset of $200,000 in a 10-year operating lease. Payments of $28,476 are made annually at the end of each year. The interest rate charged by the lessor was 7% and was