Concept – Operating Lease
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
What best describes an operating lease?
What best describes an operating lease?
Given a four-year operating lease and the payments for each year… find the amount of total lease expense reported in year 2.
Your numbers will vary.
Given a five-year lease, the acquisition price, and the fair value… find the amortization right of uses asset.
Your numbers will vary.
Given the percentage the lease was discounted, the annual lease payments, and the price of equipment… find the Interest revenue.
Your numbers will vary.
Given the leases payments, the maintenance services, the incremental borrowing rate, and the rounded annuity number… find the amount that should be recorded as lease liability.
Your numbers will vary.
Given the leases payments, the maintenance services, the incremental borrowing rate, and the rounded annuity… find the amount that should be recorded as lease payable.
Your numbers will vary.
Given the selling price, the amount that the lessor paid, the implicit rate, and the annual lease payments… find the effect on earnings.
Your numbers will vary.
Given the percentage the lease was discounted, the annual lease payments, and the price of equipment… find the Increase in earnings.
Your numbers will vary.
Given the selling price, the book value, the present value of lease rentals, and the estimated remaining useful life… find the recognized gain.
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Given the rights of use asset value and the interest rate… find the balance after two years.
Your numbers will vary.