# Acct 302 Ch.21 Essay

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CHAPTER 21 Accounting for Leases ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics *1. *2. Rationale for leasing. Lessees; classification of leases; accounting by lessees. Disclosure of leases. Lessors; classification of leases; accounting by lessors. Residual values; bargainpurchase options; initial direct costs. Sale-leaseback. Questions 1, 2, 4 3, 7, 8, 14, 20, 21, 23 1, 2, 3, 4, 5 1, 2, 3, 5, 7, 8, 11, 12, 13, 14 1, 2, 3, 4, 6, 7, 8, 9, 11, 12, 14, 15, 16 4, 5, 7, 8 6, 7, 8, 11 9, 10 4, 5, 6, 7, 9, 10, 12, 13, 14 4, 8, 9, 10 15, 16 1, 2, 3, 5, 10, 14, 16 Brief Exercises Exercises Problems Concepts for Analysis 1, 2 1, 2, 3, 4, 5, 6 *3. *4. 19, 22 5, 6, 9, 10, 11, 12, 13 15, 16, 17, 18 24 2, 3, 5 2, 4 *5. 6, 7, 10, 11, 5, 6 13, 14, 15 7, 8 *6. 12 *This material is dealt with in an Appendix to the chapter. Copyright © 2010 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 13/e, Solutions Manual (For Instructor Use Only) 21-1 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives 1. Explain the nature, economic substance, and advantages of lease transactions. 2. Describe the accounting criteria and procedures for capitalizing leases by the lessee. 3. Contrast the operating and capitalization methods of recording leases. 4. Identify the classifications of leases for the lessor. 5. Describe the lessor’s accounting for directfinancing leases. 6. Identify special features of lease arrangements that cause unique accounting problems. 7. Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting. 8. Describe the lessor’s accounting for sales-type leases. 9. List the disclosure requirements for leases. *10. Understand and apply lease accounting concepts to various lease arrangements. *11 Describe the lessee’s accounting for saleleaseback transactions. 12 15, 16 1, 2, 3, 4 1,