properly classified this lease as a capital lease on its financial statements and uses straight-line depreciation on comparable assets. Question: 22What is the annual amortization expense that Neary will record on the leased computers?A. $20,000 B. $21,000 C. $25,000 D. $26,250 Question: 23If a lessee uses off-balance-sheet financing, assets have been acquiredQuestion: 24Which of the following meets a criterion for a lessee to account for a lease as a finance lease?Question: 25
Which of the following is a criterion for a lease to be classified as a finance lease in the books of a lessee?
ﻝﻭﺩ ﻥﻳﺗﺎﻧﻘﻟﺍ ﻰﻠﻋ ﺎﻫﻭﻗﻼﺗﺣ ﺎﻫﻭﺟﺎﺗﺣﺗ ﻲﻠﻟﺍ ﻪﻠﺋﺳﻻﺍﻭ ﺏﺗﻛﻟﺍ ﻝﻛ Question: 26Which of the following statements about a lease is falseif a lease classification criterion is met?A. The lessor capitalizes the net investment in the lease. B. The lessor records a leased asset. C. The lessee amortizes right-of-use asset. D. A sales-type lease is a form of financing. Question: 27A corporation signed a 3-year lease for an automobile on December 1. The automobile had a list price of $17,000 and an estimated useful life of 8 years. The lease called for payments of $500 per month for 36 months. The present value of the $500 payments was $15,054 at the corporation’s incremental borrowing rate and $15,496 at the lessor’s implicit rate, which is known to the lessee. Based on the above information, the corporation should record the lease as a(n)Subunit 5: Income TaxesQuestion: 1Income-tax-basis financial statements differ from those prepared under GAAP because they
ﻝﻭﺩ ﻥﻳﺗﺎﻧﻘﻟﺍ ﻰﻠﻋ ﺎﻫﻭﻗﻼﺗﺣ ﺎﻫﻭﺟﺎﺗﺣﺗ ﻲﻠﻟﺍ ﻪﻠﺋﺳﻻﺍﻭ ﺏﺗﻛﻟﺍ ﻝﻛ Question: 2Temporary differences arise when expenses are deductible for tax purposesAfter They Are Before They Are Recognized in Recognized in Financial Income Financial Income A. No No B. No Yes C. Yes Yes D. Yes No Fact Pattern: