Question: Exercise 12.13 LEASE CLASSIFICATION; ACCOUNTING BY LESSOR Use the information contained in exercise 12.7 to complete the following: 1. Classify the lease for both lessee

Exercise 12.13 LEASE CLASSIFICATION; ACCOUNTING BY LESSOR Use the information contained

Exercise 12.13 LEASE CLASSIFICATION; ACCOUNTING BY LESSOR Use the information contained in exercise 12.7 to complete the following: 1. Classify the lease for both lessee and lessor based on the guidance provided in IAS 17. Justify your answer 2. Prepare (a) the lease schedules for the lessor (show all workings) and (b) the journal entries in the books of the lessor for the year ended 30 June 2014. Exercise 12.13 LEASE CLASSIFICATION; ACCOUNTING BY LESSOR Use the information contained in exercise 12.7 to complete the following: 1. Classify the lease for both lessee and lessor based on the guidance provided in IAS 17. Justify your answer 2. Prepare (a) the lease schedules for the lessor (show all workings) and (b) the journal entries in the books of the lessor for the year ended 30 June 2014

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