Financial Accounting
ANSWERResources: Financial Accounting: Tools for Business Decision Making and Managerial Accounting: The Basis for Business Decisions
Prepare responses to the following assignment from the e-texts:
- Ch. 13: Communication Activity: BYP 13-7 of Financial Accounting: Tools for Business Decision Making
- Note: Include a 350-700 word memo addressing the problem in BYP 13-7.
- Ch. 23: Exercises 23.10 & 23.12 of Managerial Accounting: The Basis for Business Decisions
- Click the Assignment Files tab to submit your assignment.
Resources: Financial Accounting Theory and Analysis
Prepare responses to the following assignment from the e-text:
Ch. 13: Case 13-4 Application of SFAC No. 13 & Case 13-5 Lease Classifications
- Click the Assignment Files tab to submit your assignment.
- ANSWER ONLY THESE QUESTIONS
- Team member 2
- b. How should Lani account for this lease at its inception and determine the amount to be recorded? )
- Team member 3
- d. How should Lani report the lease transaction on its December 31, 2006, balance sheet?)
- Team Member 4)
- b. What criteria must be met by the lease meet in order that Lambert Company classify it as a sales-type or direct financing lease?
…………….Answer Preview……………
Memo
To: R.J. Falk CEO
From: Team B
Date: January 28, 2015
Re: Financial Statement Analysis
Lani engaged in a lease contract for a machine that enhances manufacturing process. The company was also to benefit from the ownership of the item after the contract. The minimum tem was put at eight years however; the company could negotiate for longer terms or renew the contract. Financial statements recorded by Lani Company contain crucial information regarding its financial status and the account of lease arrangements which is important……………..
APA
919Words
