What entry is required for the lessor in a finance lease?
A: Lease receivable.
B: Rental income.
C: Interest expense.
D: Depreciation expense.
A: Lease receivable.
B: Rental income.
C: Interest expense.
D: Depreciation expense.
举一反三
- What entry is required for the lessor for an operating lease? A: Gain/loss on asset sale. B: Net investment in lease. C: Interest income. D: Depreciation expense.
- All of the following are expense accounts except: () A: Rent expense. B: Prepaid<br/>Insurance. C: Supplies<br/>expense. D: Depreciation<br/>expense.
- The operating expense section of an income statement for a wholesaler would not include A: freight-out. B: utilities expense. C: cost of goods sold. D: insurance expense.
- The lessor should divide the lease into financing lease and （ ） lease on the lease start date.
- Which of the following is not a selling expense? A: Advertising expense. B: Office salaries expense. C: Freight-out. D: Store supplies consumed.