Business, 18.03.2021 01:30 aquinomelodyr

On December 31, 2021, Oslo Corporation leased a ship from Bergen Company for an eight-year period expiring December 30, 2029. Equal annual payments of $500,000 are due on December 31 of each year, beginning with December 31, 2021. The lease is properly classified as a finance lease on Oslo‘s books. The present value at December 31, 2021 of the eight lease payments over the lease term discounted at 10% is $2,934,213. Assuming all payments are made on time, the amount that should be reported by Oslo Corporation as the total liability for finance leases on its December 31, 2022 balance sheet is

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On December 31, 2021, Oslo Corporation leased a ship from Bergen Company for an eight-year period ex...

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