Question: a necessary condition for a sales- type lease is :

a necessary condition for a sales- type lease is :

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

20-13 The cast of the equipment is S500.000 The eupane value at the end of that time The equipment has a fair value of $500,000 en Care e s to pay all executory tirectly to a third The lease contains...

Q:

Discussion advocating for the operating lease type Medic-Tech, Inc. is a supplier of medical equipment. It recently introduced a new line of equipment that may revolutionize the medical profession....

Q:

On January 1, 2020, Bensen Company leased equipm pertains to this lease. The term of the non-cancelable lease is 6 years. At the end of the lease term, Flynn has for $1.000, while the expected resi...

Q:

Okay... so what I want to know is... why is this classified as a "sales-type" finance lease... I know that the economic life has to be > than 75% and it has to have something with Pv and it being >...

Q:

Initial Direct Cost Incurred in a Lease Transaction The lessor usually incurs the initial direct costs. Under ASC 842, the lessor treats the initial direct costs differently depending on the lease...

Q:

LEASE PROBLEM G - Lessee Accounting On January 1, 2020, Lessee Baker enters into a 5-year lease of an asset with annual lease payments of $59,000, payable at the end of each year. At the end of Year...

Q:

52. What amount of profit on sale and interest income, respectively, should be recognized for the year ended December 31, 2018? A. 720,000; 176,000 B. 720,000; 146,000 C. 45,000; 176,000 D. 45,000;...

Q:

9781259722653 the question is regarding P12-11, but it references P12-10 so I have added that as well 3. SHOW Ill and balance sheet would differ for 2017 and 2018 if the terse were treated as an...

Q:

Review Answer (Ch. 129) - Adobe Acrobat Reader DC g Nguyen Trung 1C Marigolery & Co., A V e-law-form-provided-500-hours-time-fink - Help Intermediate Acco... x Tendai Inc. sells computer systems....

Q:

On January 1, 2017, Lavery Corp., which follows ASPE, leased equipment to Flynn Ltd., which follows IFRS 16. Both Lavery and Flynn have calendar year ends. The following information concerns this...

Q:

GASB provides guidance for reporting by special-purpose entities. That guidance depends upon whether special-purpose entities are engaged in activities that are governmental-type, business-type only,...

Q:

What is the difference between the descriptive claim that people do differ in their moral beliefs and the metaethical theory of relativism?

Q:

Which business sectors would you choose to invest in for a diversified portfolio?

Q:

Plz answer all the above questions ME is a control tool that show the actual time spent on each activity. Select one: a Attendance sheet b. Time sheet c. Payroll sheet Time ticket During the audit of...