Intermediate Accounting Kieso 11th Edition文档.doc

Intermediate Accounting Eleventh?Edition Chapter?21 Accounting?for?Leases Donald?E.?Kieso Jerry?J.?Weygandt Terry?D.?Warfield Intermediate Accounting by: Donald?E.?Kieso,?Ph.D.,?C.P.A. KPMG?Peat?Marwick?Emeritus?Professor?of?Accounting?Northern?Illinois?University?DeKalb, Illinois Jerry?J.?Weygandt,?Ph.D.,?C.P.A. Arthur?Andersen?Alumni?Professor?of?Accounting?University?of?Wisconsin?Madison, Wisconsin Terry?D.?Warfield,?Ph.D. Associate?Professor?University?of?Wisconsin?Madison,?Wisconsin Copyright???2004?John?Wiley??Sons,?Inc.?All?rights?reserved. John?Wiley??Sons,?Inc. 111?River?St.,?6th?Floor,?Hoboken,?NJ?07030 0471072087 ii Table of Contents Intermediate?Accounting Table?of?Contents BASICS OF LEASING 3 Advantages?of?Leasing 3 Conceptual?Nature?of?a?Lease 5 ACCOUNTING BY LESSEE 7 Capitalization?Criteria 8 Asset?and?Liability?Accounted?for?Differently 11 Capital?Lease?Method?(Lessee) 12 Operating?Method?(Lessee) 16 Comparison?of?Capital?Lease?with?Operating?Lease 16 ACCOUNTING BY LESSOR 19 Economics?of?Leasing 19 Classification?of?Leases?by?the?Lessor 20 Direct-Financing?Method?(Lessor) 22 Operating? Method? (Lessor) 26 SPECIAL ACCOUNTING PROBLEMS 27 Residual?Values 27 Sales-Type? Leases? (Lessor) 34 Bargain?Purchase?Option?(Lessee) 37 Initial?Direct?Costs?(Lessor) 38 Current? versus? Noncurrent 38 Disclosing?Lease?Data 40 LEASE ACCOUNTING—UNSOLVED PROBLEMS 43 Illustrations of Lease Arrangements 50 HARMON, INC 51 ARDENS OVEN CO 52 MENDOTA TRUCK CO 54 APPLELAND COMPUTER 55 Sale-Leasebacks 57 DETERMINING ASSET USE 58 Lessee 58 Lessor 59 SALE-LEASEBACK ILLUSTRATION 60 iii Intermediate?Accounting Table?of?Contents iv Intermediate?Accounting Chapter?21 More Companies Ask, “Why Buy?” Leasing?has?grown?tremendously?in?popularity?and?today?is?the?fastest-growing?form?of capital?investment.?Instead?of?borrowing?money?to?buy?an?airplane,?a?computer,?a?nuclear core,?or?a?satellite,?a?company?makes?periodic?payments?to?lease?the?asset.?Even?the?gambling casinos?lease