Meaning of depreciation, inventories, equity, revenue leases

Q: Discuss the accounting and reporting for special features of lease arrangements.

A: Special features of lease arrangements: - Residual type- Sale type leases- Bargain purchase option-…

Q: Explain the conditions under which assets and liabilities are derecognized

A: The answer for the theory question on the conditions under which assets and liabilities are…

Q: What situations cause us to remeasure a lease liability and right-of-use asset How is that…

A: Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of…

Q: Define the term Lease Expense.

A: Lease: It can be defined as a contract that specifies the terms within which one party (lessor)…

Q: eceivable (net).. ed depreciation-eguipment

A: Statement of Cash Flow statement for year ended Dec.31,20Y3…

Q: distinguish between current and non-current assets, and current and non-current liabilitie

A: Any asset which is convertible in terms of cash within a time duration of one year is a current…

Q: Describe classifications of long term assets.

A: Long-term assets: Long – term assets are those assets that are generally held by a company for more…

Q: revaluation or restatement of assets and liabilitie:

A: Equity is calculated by deducting total liabilities from total assets. It can be more clearly…

Q: Explain the accounting for operating leases.

A: The accounting for an operating lease assumes that the lessor owns the leased asset, and the lessee…

Q: A leased asset under capital lease is disclosed on the balance sheet at its O present value O…

A: Capital lease means a lease where lessor has given right to use the assets to lessee  which cover…

Q: Referring to the Accounting standard AASB16, explain how a right-of-use asset measured at lease…

A: Lease Liability Recognized at Present Value of Lease installments or Lease Rentals Will be…

Q: ment of a long-term asset, the depreciation of a long-term asset, and the sale of a long-term…

A: The organization would be established for doing business in the market. Thus, it requires a lot of…

Q: Explain the difference between tangible and intangible long-lived, revenue-producing assets.

A: Tangible assets are those assets which appear in the physical form and it is measurable. Assets like…

Q: Iculate the Company's depreciation and amortization expe

A: The production volume of a corporation is determined by calculating NOPAT on operating income.By…

Q: Describe  accounting for depreciation of fixed assets?

A: The depreciation is the reduction in the value of fixed assets with the usage and passage of time.

Q: Discuss about the revenue/expense approach and also about the asset/liability approach.

A: Any amount of money spent to generate the revenues in a business is known as expenses. Revenue is…

Q: Return on assets

A: Return on assets is computed as net income upon total assets of the company.

Q: 1. Which property level costs are included "Above the Line"? a. Depreciation b. Capital reserves c.…

A: Costs which are deducted before reaching Operating Income are Above the line costs.

Q: Match the following assets with its type. Current Asset, Fixed Asset, Contra Asset Accounts…

A: Current assets are assets that can be converted into cash in short period of time. Fixed assets are…

Q: leasing of fixed assets

A: The leasing of fixed assets means transfer of the fixed assets by the owner to other party to use…

Q: What is the correct classification of Land and Building for lease? Where do assets valued at?

A: Introduction As per relevant standard lease can be of two types finance lease or operating lease,…

Q: Discuss the residual value of the leased asset. How does it impact the PV of rental payments…

A: Lease means a type of agreement in which one party gives its valuable assets to other party for a…

Q: Which of the following is not included in the computation of profit or loss? Interest Expense on…

A: Employee benefits It is the  consideration provided  by business  to employees  in exchange for…

Q: Depreciation expense is used to

A: Depreciation is gradual decrease in the value of asset due to normal wear and tear, obsolescence and…

Q: The purpose of providing for depreciation in the statement of comprehensive income is to: O a.…

A: Depreciation refers to a decrease in value of asset over its useful life due to factors such as…

Q: The accumulated depreciation account in the statement of financial position will be treated in the…

A: Depreciation: Depreciation is the reduction in the value of the asset for a particular period. It is…

Q: equired: How much is the cost of the right of use asset at the inception of the lease? (All…

A: Answer: given Lease term…

Q: Describe the accounting for leases by lessees.

A: Finance lease is a lease where all the risks and the rewards are transferred from the lessor to the…

Q: Describe the important properties of fixed assets?

A: Since you have posted a question with multiple questions, we will solve the first question for you.…

Q: determine the initial recognition, initial measurement, and subsequent measurement offi nance…

A: The face value of a bond is the fixed maturity value and the coupon is the fixed periodic amount…

Q: Describe the two categories of accounting depreciation?

A: Depreciation:   Depreciation refers to the reduction in the monetary value of a fixed asset due…

Q: Which should be debited when depreciating a leased asset? a. Lease Liability b. Non-current Asset c.…

A: Answer-  d . Depreciation expense Depreciating a leased asset is similar to a purchased fixed asset…

Q: Describe the Amortization of Intangible Assets.

A:

Q: Describe the lessee's accounting for sale-leaseback transactions.

A: Meaning:

Q: Accumulated depreciation and depreciation expense are classified respectively as A. Asset, contact…

A: Depreciation is the apportionment of cost of a asset over the life of the asset. Accumulated…

Q: Define the term the depreciable life of the asset?

A: Depreciation  is an accounting process through which allocation of an asset’s cost during its useful…

Q: Describe how to record lease revenue.

A: Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of…