::: vuaskari.com ::: Question for those having interest in accounting

Question:



ABC Enterprises has planned to purchase an asset on lease from G
Corporation. The fair value of the asset is Rs.100,000 and the lease
rentals will be Rs.15,636 payable half-yearly whereas Rs. 20,000
payable as down payment. The un-guaranteed residual value of the asset
after the three-years lease period will be Rs.4,000. The implicit
annual interest rate in the lease agreement is 9.5%. The present value
of the minimum lease payment is Rs.80,000. The last payment is to be
made in full along with the interest charges due.



Required:

Find out the total amount of installments and interest respectively
associated with this lease agreement.

Note:

Complete working must be shown in tabular form.
kindly solve this GDB
thanks in advance

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