On July 1,2017,Janus Company leased equipment to Pluto Company.The terms of the lease are as follows:
Pluto uses straight-line depreciation for its property,plant,and equipment,and its year-end is December 31.
Required:
Prepare the journal entries for the lessee from July 1 through December 31.

Question

On July 1,2017,Janus Company leased equipment to Pluto Company.The terms of the lease are as follows:
  Pluto uses straight-line depreciation for its property,plant,and equipment,and its year-end is December 31.
Required:
Prepare the journal entries for the lessee from July 1 through December 31.

Quizplus · Accepted Answer

The Answer of On July 1,2017,Janus Company leased equipment to Pluto Company.The terms of the lease are as follows:
  Pluto uses straight-line depreciation for its property,plant,and equipment,and its year-end is December 31.
Required:
Prepare the journal entries for the lessee from July 1 through December 31.

On July 1,2017,Janus Company Leased Equipment to Pluto Company