In finance lease, the amount recorded as asset is the lower amount between: a. the fair value and the present value of the maximum lease payments b. the fair value of the asset and present value of the minimum lease payments c. the fair value and present value of the asset being leased d. the fair value of the minimum lease payments and present value of the asset
In finance lease, the amount recorded as asset is the lower amount between: a. the fair value and the present value of the maximum lease payments b. the fair value of the asset and present value of the minimum lease payments c. the fair value and present value of the asset being leased d. the fair value of the minimum lease payments and present value of the asset
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter20: Accounting For Leases
Section: Chapter Questions
Problem 8MC: At its inception, the lease term of Lease G is 65% of the estimated remaining economic life of the...
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In finance lease, the amount recorded as asset is the lower amount between:
a.
the fair value and the present value of the maximum lease payments
b.
the fair value of the asset and present value of the minimum lease payments
c.
the fair value and present value of the asset being leased
d.
the fair value of the minimum lease payments and present value of the asset
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