K12E_SMCH21COMPLETE

K12E_SMCH21COMPLETE - 21-1CHAPTER 21Accounting for...

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Unformatted text preview: 21-1CHAPTER 21Accounting for LeasesASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)TopicsQuestionsBrief ExercisesExercisesProblemsConceptsfor Analysis*1.Rationale for leasing.1, 2, 41, 2*2.Lessees; classificationof leases; accounting bylessees.3, 6, 7,8, 141, 2, 3, 41, 2, 3,5, 7, 8,11, 12,13, 141, 2, 3, 4,6, 7, 8, 9,11, 13, 15,161, 2, 3, 4, 5*3.Disclosure of leases.194, 5, 7, 82, 3, 5*4.Lessors; classificationof leases; accounting bylessors.5, 9, 10,11, 12, 136, 7, 8,114, 5, 6, 7,9, 10, 12,13, 141, 2, 3, 5,10, 12, 14,174*5.Residual values; bargainpurchase options; initialdirect costs.15, 16,17, 185, 9, 104, 8,9, 106, 7, 8, 9,14, 152, 5, 6*6.Sale and leaseback.201215, 167, 8*This material is dealt with in an Appendix to the chapter.21-2ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)Learning ObjectivesBriefExercisesExercisesProblems1.Explain the nature, economic substance, andadvantages of lease transactions.2.Describe the accounting criteria and proceduresfor capitalizing leases by the lessee.1, 2, 3, 41, 2, 3,5, 111, 4, 6, 7, 8,9, 11, 12, 14,15, 163.Contrast the operating and capitalizationmethods of recording leases.55, 12,13, 142, 3, 154.Identify the classifications of leases for the lessor.6, 7, 812, 13, 142, 10, 13, 165.Describe the lessors accounting for direct-financing leases.6, 74, 1056.Identify special features of lease arrangementsthat cause unique accounting problems.9, 1084, 9, 117.Describe the effect of residual values, guaranteedand unguaranteed, on lease accounting.9, 103, 810, 11, 13,14, 15, 168.Describe the lessors accounting for sales-typeleases.116, 7, 91, 3, 10, 139.List the disclosure requirements for leases.3, 4, 5, 7, 8*10.Understand and apply lease accounting conceptsto various lease arrangements.1215, 1621-3ASSIGNMENT CHARACTERISTICS TABLEItemDescriptionLevel ofDifficultyTime(minutes)E21-1Lessee entries; capital lease with unguaranteedresidual value.Moderate1520E21-2Lessee computations and entries; capital leasewith guaranteed residual value.Moderate2025E21-3Lessee entries; capital lease with executory costsand unguaranteed residual values.Moderate2030E21-4Lessor entries; direct financing lease with option to purchase.Moderate2025E21-5Type of lease; amortization schedule.Simple1520E21-6Lessor entries; sales-type lease.Moderate1520E21-7Lessee-lessor entries; sales-type lease.Moderate2025E21-8Lessee entries with bargain purchase option.Moderate2030E21-9Lessor entries with bargain purchase option.Moderate2030E21-10Computation of rental; journal entries for lessor.Moderate1525E21-11Amortization schedule and journal entries for lessee.Moderate2030E21-12Accounting for an operating lease.Simple1020E21-13Accounting for an operating lease.Simple1520E21-14Operating lease for lessee and lessor.Simple1520*E21-15Sale and leaseback.Moderate2030*E21-16Lessee-lessor, sale-leaseback.Moderate2030P21-1Basic lessee computations and entries; capital lease.Simple2025P21-2Operating lease; lessee-lessor entries.Operating lease; lessee-lessor entries....
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K12E_SMCH21COMPLETE - 21-1CHAPTER 21Accounting for...

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