2. Lease Liabilities vs Total Liabilities $0.78 2019 $6.08 Albertson $22.5B $0.68 2020 $6.28 $23.78 $0.88 2019 $7.18 Kroger $36.78 $1.08 2020 $7,28 $39.18 Finance Lease Liabilities Operating Lease Liabilities. Total Liabilities
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- Part 1: New Lease Accounting – IFRS 16 Leases Effect Analysis. Q: Discuss the effects of the new accounting on the following items and ratios of lessees. Provide reason(s) behind all effects, in the following: 1. EBITDA, operating profit, and profit before tax 2. Operating cash flow, financing cash flow, and total cash flow 3. Debt to equity, current ratio, and return on total assetsWhen a lessor receives cash on an operating lease, which of the following accounts is increased? A. Lease Payable B. Interest Revenue: Leases C. Lease Receivable D. Rent RevenueCrystal Corporation recorded a lease payment as follows: Dr. Rent expense Cr. Cash Crystal must have a(an) Select one: a. Finance lease. b. Operating lease. c. Leveraged lease. d. Direct finance lease.
- 36. Which of the following would be included in the Lease Receivable account?I. Guaranteed residual value.II. Unguaranteed residual value.III. Executory costsIV. Rental payments. II, III, and IV. I and III only. I and II only. I, II, and IV.38. In an operating lease, the lessee records interest expense. lease expense. amortization expense and lease expense. amortization expense.*see attached What is the gross investment in the lease? a. 8,652,705b. 9,052,705c. 6,000,000d. 8,252,705
- t24 In a lease that is recorded as a manufacturer’s or dealer’s lease by the lessor, interest revenue should beA. recognized in full as revenue at the lease’s inception.B. recognized over the period of the lease using the straight-line method C. recognized over the period of the lease using the interest method.D. not be recognized in the accounts.31. In an operating lease, the lessor records Select one or more: a) Lease revenue only b) Depreciation expense and lease revenue c) Depreciation expenses only d) Lease expense only T36..new recheck Which of the following would be included in the Lease Receivable account?I. Guaranteed residual value.II. Unguaranteed residual value.III. Executory costsIV. Rental payments. II, III, and IV. I and III only. I and II only. I, II, and IV.
- Part 1: New Lease Accounting – using IFRS 16 Leases Effect Analysis. Which payments are to be included in the measurement of lease assets and lease liabilities? Also, discuss the pros and cons of excluding the following payments from the measurement. - Variable lease payments linked to future use or sales - Optional payments relating to lease-extension option when a lessee is not reasonably certain to exercise the option.Which of the following is a TRUE statement? Oa The Lessee recognizes a single Lease Expense on the Income Statement for a Finance Type Lease. Ob Under an Operating Lease, the Lessor records each Lease Payment Receipt as part Interest Revenue and part Lease Revenue. Oc Under an Operating Lease, the Lessot reports a Lease Receivable Asset on their Balance Sheet equal to the presernt value of Lease payments plus the present value of a Rem d A Lessee reports Interest Expense on a Finance Lease but not on an Operating Lease. Oe. Both a Guaranteed and Unguaranteed Residual Value affect the Lessee's computation of amounts capitalized as a Leased AssetFinancial Statement Reporting for an Operating Lease Harmeling Paint Ball (HPB) Corporation needs a new air compressor that costs $80,000. HPB will need it for only 5 years even though the compressor's economic life is long enough so that the lease is an operating lease. The firm can lease the compressor for 5 years with $30,000 lease payments at the end of each year. HPB's cost of debt is 13%. Answer the following questions. (Hint: See Table 19-1.) a. What is the initial lease liability that must be reported on the balance sheet? Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a positive value. $ b. What is the initial right-of-use asset? Do not round intermediate calculations. Round your answer to the nearest cent. $ c. What will HPB report as the Year-1 lease expense? Round your answer to the nearest cent. Enter your answer as a positive value. $ d. What is the Year-1 imputed interest expense? Do not round intermediate…