Clarissa Nastania

19/441354/EK/22372
AKUNTANSI MENENGAH II
Tugas Minggu ke-9

E21.12
On January 1, 2019, Bensen Company leased equipment to Flynn Corporation. The following
information pertains to this lease.
1. The term of the non-cancelable lease is 6 years. At the end of the lease term, Flynn has
the option to purchase the equipment for $1.000, while the expected residual value at the
end of the lease is $5.000.
2. Equal rental payments are due on January 1 of each year, beginning in 2019.
3. The fair value of the equipment on Jauary 1, 2019 is $150.000, and its cost is $120.000
4. The equipment has an economic life of 8 years. Flynn depreciates all of its equiment on a
straight-line basis.
5. Bensen set the annual rental to ensure a 5% rate of return. Flynn’s incremental borrowing
rate is 6%, and the implicit rate of the lessor is unknown.
6. Collectibility of lease payments by the lessor is probable.

Instructions
(Both the lessor and lessee’s accounting periods end on December 31.)
a. Discuss the nature of this lease to Bensen.
Bagi Bensen, ini adalah finance lease (sales-type) karena masa sewa aset adalah ¾ dari
umur ekonomis aset. Dalam sewa ini, terdapat opsi bargain-purchase, karena di akhir
masa sewa, Flynn memiliki opsi untuk emembeli aset dengan harga $4.000 di bawah
expected residual valuenya, dan hampir dapat dipastikan jika opsi ini akan digunakan
oleh Flynn. Dan juga, kolektibilitas pembayaran sewa oleh lessor itu memungkinkan.

b. Calculate the amount of the annual rental payment.

Fair value of leased asset $150.000
Less: Present value of bargain-purchase option $746
($1.000 x 0,74622)
Present value of lease payments $149.254

Annual rental payment = $149.253,78/5,32948 = $28.005

c. Prepare all the necessary journal entries for Bensen for 2019.
January 1, 2019
Lease receivable $150.000
($28.005 x 5,32948) + ($1.000 x 0,74622)
Cost fo Goods Sold $120.000
Sales revenue $150.000
($149.254 + $746)
 Clarissa Nastania
19/441354/EK/22372
Inventory $120.000
Cash $28.005
Lease receivable $28.005

December 31, 2019

Lease receivable $6.100
Interest revenue $6.100
($150.000 - $28.005) x 0,05

d. Suppose the collectibility of the lease payments was not probable for Bensen. Prepare all
necessary journal entries for this company in 2019.
January 1, 2019
Cash $28.005
Deposit liability $28.005

e. Prepare all the necessary journal entries for Flynn for 2019.
January 1, 2019
Right-of-Use asset $146.677
Lease liability $146.677
[($28.005x5,21236)+($1.000x0,70496)]
Lease liability $28.005
Cash $28.005

December 31, 2019

Depreciation expense $18.335
Right-of-Use asset $18.335
($146.677/8 tahun)
Interest expense $7.120
Lease liability $7.120
($146.677-$28.005)x0,06

f. Discuss the effect on this journal entry for Flynn at lease commencement, assuming
initial direct costs of $2.000 are incurred by Flynn to negotiate the lease.
Right-of-Use asset $148.677
Cash $2.000
Lease liability $146.677