3020 final

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Author:
yhliuaa
ID:
303017
Filename:
3020 final
Updated:
2015-05-20 12:54:21
Tags:
3020 final
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Description:
3020
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  1. Lessee – derecog – obtain ownership -BPO

    • Int expense, lease liab (sum=BPO price)
    • cash
    • Asset(resi); AD
    • Leased asset (hist)

  2. Lessee – derecog – don’t obtain ownership

    • AD
    • Leased asset (hist)

  3. Lessee – prepaid executory cost incurred

    • Executory cost
    • Prepaid executory cost

  4. Lessee – FV > GRV – return asset

    • Lease liab, int expense (sum = GRV), AD(calc)
    • Leased Asset(Hist)

  5. Lessee – FV < GRV by 2000– return asset

    • Lease liab, int expense (sum = GRV), AD(calc), loss on finance lease(2000)
    • Leased Asset(Hist), Cash(2000)

  6. Lessor - FV > GRV – return asset

    • Asset
    • AD (resi.); int revenue, lease receivable (sum = GRV)

  7. Lessor – FV

    • Asset, cash(shortfall)
    • AD(resi); int revenue, lease receivable( sum = GRV)

  8. Lessor – inception - DFL

    • Lease receivable
    • Asset

  9. Lessor – inception – sales-type

    • Lease receivable (capitalized); COGS (cost – PV(RV))
    • Sales revenue (=PV(PMT), ie. does not include RV); inventory(cost)

  10. Lessor – pmt

    • Cash
    • Lease receivable
    • Interest revenue

  11. Lessor - Initial direct cost – amortization

    • Leasing expense
    • Prepaid leasing expense

  12. Lessor – received executory cost from lessee
    Cash

    Deferred executory cost

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