0444 Assignment No 2 Solution 2022-Autumn AIOU-Q 2 Ans-Advance Accountingbr br #digilearnerspoint , #aiou, 0444 Assignment No 2 Solution 2022, aiou 0444 assignments solution, autumn 2022, aiou autumn 2022, advance accounting, allama iqbal open university, lessor, lessee, lease contract, seller lessee, buyor-lessor, sale-leaseback, finance lease, operating lease, br br Question no 2br A Car was acquired on leases by Affan from Azan Corporation for four br years on 1st January, 2021 that has fair value of Rs. 15,000. Interest rate implicit in the lease is 12. Useful life of equipment is 5 years. Annual rentals are payable at the end of each year. The lessee depreciates the asset using the straight-line method. (20) br Required:br i. Compute the annual rentals payable.br ii. Prepare amortization schedulebr iii. Prepare the journal entries for the first two years in the books of lessee.