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Case study leasing contacts intermediate accounting

required to seek different corporations’ annual reports to find details about leasing contract (agreement) capitalized by the lessor and the lessee, and to respond to the following instructions:

PART 1

Description Marks

1. A brief background of the companies involved in the lease agreement. 1

2. Information concerning the lease agreement clauses. 1

PART 2 ACCOUNTING FOR THE LESSEE

Description Marks

1. The justification of the lease classification (for the lessee) 1

2. The lease amortization schedule (for the lessee) 2

3. Recording the entries relating to lease agreement for the first two 2

years of the lease (for the lessee). (Don’t forget to mention the dates).

4. The section relating to the lease transactions (in the statement of 1

financial position) at the end of the second year. (for the lessee).

PART 2 ACCOUNTING FOR THE LESSOR

Description Marks

1. The justification of the lease classification (for the lessor) 1

2. The lease amortization schedule (for the lessor) 2

3. Recording the entries relating to lease agreement for the first two 2

years of the lease (for the lessor). (Don’t forget to mention the dates).

4. The section relating to the lease transactions (in the statement of 1

financial position) at the end of the second year. (for the lessor).

Skills: Accounting, Research Writing, Finance, Legal, Financial Research

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