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What must a lessee disclose for all leases whether classified as operating or capital?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter11: Notes, Bonds, And Leases

Section: Chapter Questions

Problem 14Q

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Why are compound interest concepts appropriate and applicable in accounting for a sales-type lease?
What is the basic difference between the accounting procedures used by a lessor for a sales-type lease and those used for a direct-financing lease?
Which of the following should be included by the lessee in determining the amount of the right-to-use asset and lease liability:
What information should a lessee disclose about its capital leases in its financial statements and footnotes?
What are the criteria for classifying a lease as operating or capital? Why is there a difference between the two? What are the implications of an operating lease versus a capital lease on an entity’s financial statements?
Where can authoritative IFRS related to the accounting for leases be found?
What is the main purpose of the lease disclosures required of the lessor and lessee?
What are executory costs? How are they accounted for by the lessee in a capital lease when paid by the lessee? When paid by the lessor? Explain.
Which are the General Contents of Leases?
Which of the following is most likely a lessee’s disclosure about operating leases?A . Lease liabilities.B . Future obligations by maturity.C . Net carrying amounts of leased assets.
In accounting for a Type B lease, how are the lessee’s and lessor’s income statements affected?
Metheny Corporation’s lease arrangements qualify assales-type leases at the time of entering into the transactions.How should the corporation recognize revenuesand costs in these situations?