1 Environment And Theoretical Structure Of Financial Accounting 2 Review Of The Accounting Process 3 The Balance Sheet And Financial Disclosures 4 The Income Statement, Comprehensive Income, And The Statement Of Cash Flows 5 Time Value Of Money Concepts 6 Revenue Recognition 7 Cash And Receivables 8 Inventories: Measurement 9 inventories: Additional Issues 10 Property, Plant, And Equipment And Intangible Assets: Acquisition 11 Property, Plant, And Equipment And Intangible Assets: Utilization And Disposition 12 Investments 13 Current Liabilities And Contingencies 14 Bonds And Long-term Notes 15 Leases 16 Accounting For Income Taxes 17 Pensions And Other Postretirement Benefits 18 Shareholders’ Equity 19 Share-based Compensation And Earnings Per Share 20 Accounting Changes And Error Corrections 21 The Statement Of Cash Flows Revisited A Derivatives expand_more
Chapter Questions expand_more
Problem 15.1Q Problem 15.2Q Problem 15.3Q Problem 15.4Q Problem 15.5Q: A lessee should classify a lease transaction as a finance lease if it is noncancelable and one or... Problem 15.6Q: Lukawitz Industries leased non-specialized equipment to Seminole Corporation for a four year period,... Problem 15.7Q: In accounting for a finance lease/sales-type lease, how are the lessees and lessors income... Problem 15.8Q: What is selling profit on a sales-type lease? How do we account for a sales-type lease with a... Problem 15.9Q: At the beginning of an operating lease, the lessee will record what asset and liability, if any? Problem 15.10Q: At the beginning of an operating lease, the lessor will record what asset or assets, if any? Problem 15.11Q: In accounting for an operating lease, how are the lessees and lessors income statements affected? Problem 15.12Q: Briefly describe the conceptual basis for asset and liability recognition under the right-of-use... Problem 15.13Q: In a financing lease, front loading of lease expense and lease revenue occurs. What does this mean,... Problem 15.14Q: The discount rate influences virtually every amount reported in connection with a lease by both the... Problem 15.15Q: A lease that has a lease term (including any options to terminate or renew that are reasonably... Problem 15.16Q: A lease might specify that lease payments may be increased (or decreased) at some future time during... Problem 15.17Q: What is a purchase option? How does it affect accounting for a lease? Problem 15.18Q: A six-year lease can be renewed for two additional three-year periods, and it also can be terminated... Problem 15.19Q: Culinary Creations leased kitchen equipment under a five-year lease with an option to renew for... Problem 15.20Q: What situations cause us to remeasure a lease liability and right-of-use asset? How is that... Problem 15.21Q Problem 15.22Q: Compare the way a purchase option that is reasonably certain to be exercised and a lessee-guaranteed... Problem 15.23Q: What nonlease costs might be included as part of lease payments? How are they accounted for by the... Problem 15.24Q: The lessors initial direct costs often are substantial. What are initial direct costs? Problem 15.25Q: When are initial direct costs recognized in an operating lease? In a sales-type lease with selling... Problem 15.26Q Problem 15.27Q Problem 15.28Q Problem 15.29Q: When a company sells an asset and simultaneously leases it back, what criteria must be met to apply... Problem 15.30Q Problem 15.1BE: Lease classification LO151 (Note: Brief Exercises 1 and 2 are two variations of the same basic... Problem 15.2BE: Lease classification LO151, LO152 Corinth Co. leased nonspecialized equipment to Athens Corporation... Problem 15.3BE: Lessee and lessor; calculate interest; finance/sales-type lease LO152 A finance lease agreement... Problem 15.4BE: Finance lease; lessee; balance sheet effects LO152 (Note: Brief Exercises 4, 5, and 6 are three... Problem 15.5BE: Finance lease; lessee; income statement effects LO152 A lease agreement that qualifies as a finance... Problem 15.6BE: Sales-type lease; lessor; income statement effects LO153 A lease agreement that qualifies as a... Problem 15.7BE Problem 15.8BE: Operating lease LO154 (Note: Brief Exercises 8 and 9 are two variations of the same basic... Problem 15.9BE: Operating lease LO154 At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT... Problem 15.10BE: Short-term lease LO155 King Cones leased ice cream-making equipment from Ace Leasing. Ace earns... Problem 15.11BE: Uncertain lease term LO156 Java Hut leased a specialty expresso machine for a 10-year noncancelable... Problem 15.12BE: Uncertain lease payments LO156 On January 1, Espinoza Moving and Storage leased a truck for a... Problem 15.13BE: Purchase option; lessor; sales-type lease LO152, LO153, LO156 Ace Leasing acquires equipment and... Problem 15.14BE: Residual value; sales-type lease LO152, LO153, LO156 On January 1, James Industries leased... Problem 15.15BE: Guarantee d residual value LO156 On January 1, Garcia Supply leased a truck for a four-year period,... Problem 15.16BE: Lessors initial direct costs; sales-type lease LO153, LO157 Bryant leased equipment that had a... Problem 15.17BE Problem 15.18BE Problem 15.19BE Problem 15.1E: Lease classification LO151 Each of the four independent situations below describes a lease... Problem 15.2E Problem 15.3E Problem 15.4E Problem 15.5E Problem 15.6E Problem 15.7E Problem 15.8E Problem 15.9E Problem 15.10E: Lessor calculation of annual lease payments; lessee calculation of asset and liability LO152 (Note:... Problem 15.11E Problem 15.12E Problem 15.13E Problem 15.14E Problem 15.15E: Sales-type lease; lessor; income statement effects LO153 King Company leased equipment from Mann... Problem 15.16E Problem 15.17E Problem 15.18E Problem 15.19E Problem 15.20E Problem 15.21E Problem 15.22E Problem 15.23E Problem 15.24E: Calculation of annual lease payments; residual value LO152, LO156 Each of the four independent... Problem 15.25E Problem 15.26E: Lease concepts; finance/sales-type leases; guaranteed and unguaranteed residual value LO152, LO156... Problem 15.27E Problem 15.28E: Calculation of annual lease payments; purchase option LO152, LO156 For each of the three... Problem 15.29E Problem 15.30E Problem 15.31E Problem 15.32E Problem 15.33E Problem 15.34E Problem 15.35E Problem 15.36E Problem 15.37E Problem 15.38E Problem 15.39E Problem 15.40E Problem 15.41E Problem 15.1P Problem 15.2P Problem 15.3P Problem 15.4P Problem 15.5P Problem 15.6P Problem 15.7P Problem 15.8P Problem 15.9P Problem 15.10P Problem 15.11P Problem 15.12P Problem 15.13P Problem 15.14P Problem 15.15P Problem 15.16P: Lessors initial direct costs; operating and sales-type leases LO152, LO153, LO154, LO157 Terms of a... Problem 15.17P Problem 15.18P Problem 15.19P Problem 15.20P Problem 15.21P Problem 15.22P Problem 15.23P Problem 15.24P Problem 15.25P Problem 15.26P Problem 15.27P Problem 15.28P Problem 15.29P Problem 15.30P Problem 15.31P Problem 15.1DMP: Research Case 151 FASB codification; locate and extract relevant information and authoritative... Problem 15.2DMP Problem 15.3DMP: Ethics Case 153 Leasehold improvements LO153 American Movieplex, a large movie theater chain,... Problem 15.4DMP Problem 15.5DMP: Communication Case 155 Wheres the gain? Appendix General Tools is seeking ways to maintain and... Problem 15.6DMP Problem 15.1DA Problem 1CCTC Problem 2CCTC format_list_bulleted
Cornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning