ch 19 j/e Flashcards
1
Q
A
2
Q
Record obligation of lease (aspe)
A
dr equipment under lease
cr obligation under lease
3
Q
first lease payment made at beg of year
A
prepaid maintenance
obligation under lease
cr cash
4
Q
at year end acruing interest
A
interest expense
cr interest payable
5
Q
depreciation
A
same as always
6
Q
jan 1 (new year)
A
prepaid maintenance (adv pmt)
interest payable (dec 3116 rev)
obligation under lease (table)
cr cash
7
Q
A
8
Q
Like the rou but for aspe
A
dr equipment aquired for lease
cr cash
9
Q
mid way through year
A
dr lease receivable
cr equipment aquired for lease
cr unearned interest income
10
Q
lease receive
A
dr cash
cr lease receivable
11
Q
interest
A
unearned interest income
cr interest income
12
Q
A
