# ACCT 557 Week 4 Homework

## ACCT 557 Week 4 Homework

ACCT 557 Week 4 Homework

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Problem 1 a) Sales-Type Leases 1) Lease Receivable Present value of annuity due of \$1 for 10 periods disc. At 10% Annual lease payment Present value of estimated residual value (\$30,000 x 10 years x 10%) Lease Receivable @ inception 2) Annual Lease Payment Present value of annuity due of \$1 for 10 periods at 10% Sales Price 3) Lease receivable at inception Present value of residual value Cost of Sales Problem 2 a) Sales-Type Leases Lessee The lease is a capital lease because the lease term exceeds 75% of the asset's economic life and the present value of the minimum payments exceeds 90% of the fair value of the leased asset. Initial Obligation under capital leases: Minimum lease payments (\$60,000) x PV of an annuity due for 10 periods at 10% (6.75902)

ACCT 557 Week 4 Homework

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http://chosecourses.com/ACCT%20557/acct-557-week-4-homework

Product Description

Problem 1 a) Sales-Type Leases 1) Lease Receivable Present value of annuity due of \$1 for 10 periods disc. At 10% Annual lease payment Present value of estimated residual value (\$30,000 x 10 years x 10%) Lease Receivable @ inception 2) Annual Lease Payment Present value of annuity due of \$1 for 10 periods at 10% Sales Price 3) Lease receivable at inception Present value of residual value Cost of Sales Problem 2 a) Sales-Type Leases Lessee The lease is a capital lease because the lease term exceeds 75% of the asset's economic life and the present value of the minimum payments exceeds 90% of the fair value of the leased asset. Initial Obligation under capital leases: Minimum lease payments (\$60,000) x PV of an annuity due for 10 periods at 10% (6.75902)

ACCT 557 Week 4 Homework

Purchase here

http://chosecourses.com/ACCT%20557/acct-557-week-4-homework

Product Description

Problem 1 a) Sales-Type Leases 1) Lease Receivable...