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What should be the nature of lease arrangements with lessees

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Problem 1: What is the relevance of revenue recognition criteria for lessor accounting for leases?

a) operating leases
b) finance (sales-type) leases
c) Only finance (sales-type) leases.
d) Both operating leases and finance (sales-type) leases.

Problem 2: Walker Company is a manufacturer and lessor of computer equipment. What should be the nature of its lease arrangements with lessees if the company wishes to account for its lease transactions as finance leases?

a) The lease transfers ownership of the property to the lessee
b) The lease contains a bargain-purchase option
c) The lease term is a major part of the remaining economic life of the underlying asset (i.e. equal to 75% or more of the estimated economic life of the property)
d) All of above

Reference no: EM132811395

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