Accounting homework help

Case study: Leasing contract
Each group of students is required to seek different corporations’ annual reports to find
disclosed information that shows details about leasing contract (agreement) capitalized by
the lessee, and represents a finance lease for the lessor, 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
years of the lease (for the lessee). (Don’t forget to mention the dates).
2
4. The section relating to the lease transactions (in the statement of
financial position) at the end of the second year. (for the lessee).
1
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
years of the lease (for the lessor). (Don’t forget to mention the dates).
2
4. The section relating to the lease transactions (in the statement of
financial position) at the end of the second year. (for the lessor).
1
Formatting Criteria * 1
Total points 15