The methods of accounting for a lease by the lessor are: a. operating and finance lease method. b. operating and sales-type method. c. operating and leveraged lease method. d. None of the above.
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- Provide correct answer for this questionThe methods of accounting for a lease by the lessor are Select one: a. operating and finance lease methods. b. none of these. c. operating and leveraged lease methods. d. operating, sales, and finance lease methods. Clear my choiceWhich of the following is a required financial statement presentation by a lessee for both capital leases and operating lease? A. Amortization Expense and Interest Expense B. Lease Expense C. Right-of-Use Asset and Lease Liability D. The reduction of the Lease Liability as a financing activity
- (4) In a lease that is appropriately recorded as a direct-financing lease by the lessor, unearned income A. should be amortized over the period of the lease using the effective interest method. B. should be amortized over the period of the lease using the straight-line method. C. does not arise. D. should be recognized at the lease's expiration. E. None of these answer choices are correct.Which of the following accounts would not appear on the income statement of a lessee in connection with a finance lease? 0 A. Amortization expense B. Interest expense OC. Services expense for a nonlease component D. Rental expenseWhich of the following is not a criterion for a lease to be recorded as a finance lease?(a) There is transfer of ownership.(b) The lease is cancelable.(c) The lease term is for the major part of the economic life of the asset.(d) There is a bargain-purchase option.
- Explain the accounting involved in applying the operating lease method by a lessor.Under a capital lease: Select one: a. The lessee report assets on balance sheet O b. None of the options c. The lessee report rent expenses on income statement d. The lessor report rent expense on income statementSee attached picture A) What is the theoretical basis for the accounting standard that requires certain long-term leases to be capitalized by the lessee? Do not discuss the specific criteria for classifying a specific lease as a capital lease.