KiesoIA_15e_SM_Ch21

Topics: Lease, Depreciation, Finance lease Pages: 98 (22124 words) Published: September 26, 2014
CHAPTER 21
Accounting for Leases
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Brief
Exercises

Topics

Questions

*1.

Rationale for leasing.

1, 2, 4

*2.

Lessees; classification
of leases; accounting by
lessees.

3, 5, 7,
8, 14

*3.

Disclosure of leases.

19

*4.

Lessors; classification
of leases; accounting by
lessors.

5, 6, 9, 10,
11, 12, 13

6, 7, 8, 11

*5.

Residual values; bargainpurchase options; initial
direct costs.

15, 16,
17, 18

*6.

Sale-leaseback.

20

Exercises

Problems

Concepts
for Analysis
1, 2

1, 2, 3,
4, 5

1, 2, 3,
5, 7, 8,
11, 12,
13, 14

1, 2, 3, 4,
1, 2, 3,
6, 7, 8, 9,
4, 5, 6
11, 12, 14,
15, 16
2, 4, 5,
7, 8

2, 3, 5

4, 5, 6, 7,
9, 10, 12,
13, 14

1, 2, 3, 5,
10, 16

2, 4

9, 10

4, 8,
9, 10

6, 7, 10,
11, 13,
14, 15

5, 6

12

15, 16

7

*This material is dealt with in an Appendix to the chapter.

Copyright © 2013 John Wiley & Sons, Inc.

Kieso, Intermediate Accounting, 15/e, Solutions Manual

(For Instructor Use Only)

21-1

ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Questions
Learning Objectives

Brief
Exercises

Exercises

Problems Concepts
for
Analysis

1. Explain the nature,
economic substance, and
advantages of lease
transactions.

1, 2

2. Describe the accounting
criteria and procedures
for capitalizing leases by
the lessee.

3, 4, 5, 6

1, 2, 3, 4

1, 2, 3,
5, 11

1, 3, 4, 6,
7, 8, 9,
11, 12,
14, 15, 16

CA21-1,
CA21-2

3. Contrast the operating
and capitalization
methods of recording
leases.

7, 8

5

5, 12,
13, 14

2, 15

CA21-3

4. Explain the advantages
and economics of leasing
to lessors and identify the
classifications of leases
for the lessor.

9

6, 7, 8

12, 13, 14

2, 10, 13,
16

CA21-4

5. Describe the lessor’s
accounting for directfinancing leases.

10

6, 7

4, 10

5

6. Identify special features of
lease arrangements that
cause unique accounting
problems.

11, 12, 13

9, 10

8, 9

4, 9, 11,
12

7. Describe the effect of
residual values,
guaranteed and
unguaranteed, on lease
accounting.

14, 15, 16

9, 10

3, 8

6, 10, 11,
13, 14,
15, 16

8. Describe the lessor’s
accounting for sales-type
leases.

17, 18

11

6, 7, 8, 9

1, 3, 10,
13

CA21-5,
CA21-6

9. List the disclosure
requirements for leases.

19

3, 4, 5, 7,
8

CA2-12

*10. Describe the lessee’s
accounting for saleleaseback transactions.

20

21-2

Copyright © 2013 John Wiley & Sons, Inc.

12

15, 16

Kieso, Intermediate Accounting, 15/e, Solutions Manual

CA21-7

(For Instructor Use Only)

ASSIGNMENT CHARACTERISTICS TABLE
Item
E21-1
E21-2
E21-3
E21-4
E21-5
E21-6
E21-7
E21-8
E21-9
E21-10
E21-11
E21-12
E21-13
E21-14
*E21-15
*E21-16
P21-1
P21-2
P21-3
P21-4
P21-5
P21-6
P21-7
P21-8
P21-9
P21-10
P21-11
P21-12
P21-13
P21-14
P21-15
P21-16

Description
Lessee entries; capital lease with unguaranteed
residual value.
Lessee computations and entries; capital lease
with guaranteed residual value.
Lessee entries; capital lease with executory costs
and unguaranteed residual value.
Lessor entries; direct-financing lease with option to purchase. Type of lease; amortization schedule.
Lessor entries; sales-type lease.
Lessee-lessor entries; sales-type lease.
Lessee entries with bargain-purchase option.
Lessor entries with bargain-purchase option.
Computation of rental; journal entries for lessor.
Amortization schedule and journal entries for lessee.
Accounting for an operating lease.
Accounting for an operating lease.
Operating lease for lessee and lessor.
Sale-leaseback.
Lessee-lessor, sale-leaseback.
Lessee-lessor entries-sales-type lease.
Lessee-lessor entries; operating lease.
Lessee-lessor entries; balance sheet presentation;
sales-type lease.
Balance sheet and income statement...
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