Recorded as a sales-type lease by the lessor

Assignment Help Financial Accounting
Reference no: EM13792582

In a lease that is recorded as a sales-type lease by the lessor, interest revenue:

should be recognized over the period of the lease using the effective interest method.

does not arise.

should be recognized in full as revenue at the lease's inception.

should be recognized over the period of the lease using the straight-line method.

Reference no: EM13792582

Questions Cloud

Amount of goodwill should be recognized-date of acquisition : Britain Corporation acquires all of English, Inc. for $800,000 cash. On that date, English has net assets with fair value of $750,000 but a book value and tax basis of $500,000. The tax rate is 35 percent. Prior to this date, neither Britain nor Engl..
Explain ways to use technology for effective teaching : Consider ways to use technology for effective teaching. Recommend at least two ways you use or plan to use technology with your students. Provide a rationale to support your response.
Problems based on corporate executive lie : Where, in general, does the responsibility of the corporate executive lie?
Change in accounting principle : Which of the following is accounted for as a change in accounting principle?
Recorded as a sales-type lease by the lessor : In a lease that is recorded as a sales-type lease by the lessor, interest revenue:
Write an an essay about the book persepolis : Write an an essay about the book "Persepolis".
What is amount of the tax liability for head of household : What is the amount of the tax liability for a head of household person having taxable income of $87,573? All answers should be rounded to the nearest dollar.
Problems based on u. s. drug laws : Determine the primary ways in which statistics or authority are used in your current position in developing persuasive arguments, and provide examples of such use.
Discussion on speech acquisition : Discussion-Speech Acquisition

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculation of average issue price of stock

Calculation of average issue price of stock - Answer the following question based on the stockholder's equity section given above. The company purchased no treasury stock before 2008. Please show your work to receive partial credit in the event tha..

  There are 16 units of the item in thephysical inventoryat

there are 16 units of the item in thephysical inventoryat december 31. the periodic inventory system is used.jan 1.

  Question 1a number of years ago lee acquired a 20 percent

question 1a number of years ago lee acquired a 20 percent interest in the bluesky partnership for 60000. the

  Prepare journal entries and preparation of balance sheet

Recording Journal Entries and preparation of balance sheet and the post-closing trial balances of two proprietorships on January 1, 2008

  Original note on the computer equipment purchased

The note payable to Royce Computers (transactions 04 and 07) is a five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 360 day year.

  The companies market capitalization and market value added

Here are the simplified financial statements of phone corporation from a recent year: What were the companies market capitalization and market value added? What was the market to book ratio?

  Compare and contrast the ledger and journal

Compare and contrast the ledger and journal. Do you feel we need both the journal and the ledger? Why/why not? Explain the best place to find the information if you wanted to see both the debit and credit side of an entry? If you wanted to see the ba..

  Describe how a chapter bankruptcy filing by the company

Describe the defenses the company could maybe assert against this third party's lawsuit. Include in your explanation the applicability of these legal defenses to the facts of this particular case.

  Compute all pros cost of goods manufactured for 2012

Compute All Pros cost of goods manufactured for 2012

  What if you borrowed to invest a total

What would happen to the expected value and standard deviation of the investment if you borrowed an additional $1,000 and invested a total of $2,000? What if you borrowed $2,000 to invest a total of $3,000?

  Which is the more successful division in terms of koi

Using 16 percent as the minimum required rate of return, compute the residual income for each division. Which division is more successful under this rate?

  Explain how the double-declining-balance method is computed

Explain how the Double-declining-balance method is computed and provide an example of how this method could be used on a new delivery truck purchased for $30,000 to be used for 4 years with a salvage value of $5,000 for year one only.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd