Business, 30.09.2019 21:00 shortcake8047

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 $562,907 over a three-year lease term, payable each june 30 and december 31, with the first payment at june 30, 2018. georgia-atlantic’s 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. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) required: 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? 3. what pretax amounts related to the lease would georgia-atlantic report in its income statement for the year ended december 31, 2018? (for all requirements, enter your answers in whole dollars and not in millio

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

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