Problem 15-9 2009fs - Operating expense LESSOR Balance...

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P15-9 2009 Financial statements LESSEE Balance Sheet item $ Amount Leased equip –noncurr 348,685 Less: Acc. depr. –noncurr (0) 348,685 Lease payable-current 75,131 Lease payable-noncurr 173,554 248,685 Prepaid oper. Exp-current 4,000 Income Statement Item $ Amount Interest expense 0 Depreciation expense
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Unformatted text preview: Operating expense LESSOR Balance Sheet item $ Amount Lease receivable-curr 265,760 Curr 73,424 Noncurr 192,336 Payable-current 4,000 Income Statement Item $ Amount Interest revenue Sales revenue 348,685 Cost of Goods Sold 282,925 Gross profit 65,760...
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