| j | Interest expense. | = | 1. Effective rate times balance. |
| k | Control passed to lessee. | = | 2. Revenue recognition issues. |
| c | Lessor’s gross investment. | = | 3. Lease payments plus residual value. |
| l | Lessee’s lease payments. | = | 4. Periodic lease payments plus excess lessee-guaranteed residual value. |
| b | Lessor’s net investment. | = | 5. PV of lease payments plus PV of residual value. |
| n | Sales-type lease selling expense. | = | 6. Initial direct costs. |
| d | Operating lease. | = | 7. Rent revenue. |
| m | Might shorten lease term. | = | 8. Purchase option. |
| e | Depreciable assets. | = | 9. Leasehold improvements. |
| f | Part of lease payments. | = | 10. Cash expected to satisfy residual value guarantee. |
| g | Non-lease payments. | = | 11. Finance lease expense. |
| a | PV of purchase option exercise price. | = | 12. Deducted in lessor’s computation of lease payments. |
| h | Depreciation longer than lease term. | = | 13. Title transfers to lessee. |
| i | Disclosure only. | = | 14. Contingent rentals. |
Purchase answer in just $2
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