HWS Book Show Me How Video Leased Assets koffman and Sons signed a four-year lease for a forklift on January 1, 2017 Annual lease payments of $1,649, based on an interest rate of 10%, are to be made every December 31, beginning with December 31, 2017 TV of Annuity of $1 Required: Refer to the table above for present value factors 1. Assume that the lease la treated as an operating lease a. Will the value of the ferklift appear on Kottman's balance sheet b. What account will indicate that ease payments have been made? TOW from the viewport of the lessee, there are two types of lease agreements: operating and capital. In an operating lease, the lesser acquires the right to one an asset for a limited period of time. The Pot required to record the right to use the property as an asset or to record the obligation for payments at a listitty 2. Assume that the lease is treated as a capital lease or finance lease a. Identity and analyze the effect when the lease is signed.