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Problem Solving. The total depreciation expense for the year 2021 is (round off answer to
the nearest thousands)

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Problem Solving. Assuming the lessor is a dealer of the property being leased to ABC, the
total expense of lessor for the year 2021 is (round off answer to the nearest thousands).

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Question 3
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Problem Solving. At the end of 2022, the current portion of lease receivable is (round off
answer to the nearest thousands)

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Question 4
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Problem Solving. At XYZ’s perspective, the total or amount of income to be recognized in
the profit or loss for 2022 (round off answer to the nearest thousands)

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Problem Solving. At XYZ’s perspective, the total financial income to be recognized for the
entire term of the lease is (round off answer to the nearest thousands)

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Problem Solving. The amount to be capitalized by lessee to right of use asset (RUA) will be
(round off answer to nearest thousands)

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Question 7
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Problem Solving. At the end of 2022, the noncurrent portion of lease liability is (round off
answer to the nearest thousands)

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Problem Solving. The total carrying value of estimated liability on dismantling at the end of
2022 is

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Problem Solving. Assuming the lessor is a dealer of the property being leased to ABC,
determine the gross profit on year 2021 assuming the cost of the property is 850,000 (round
off answer to the nearest thousands).

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Question 10
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Problem Solving. Assuming the lessor is a dealer of the property being leased to ABC, the
interest income for 2021 is (round off answer to the nearest thousands)

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Problem Solving. Assuming the lessor is a dealer of the property being leased to ABC, what
is the carrying value of the lease receivable by the end of 2022? (round off answer to the
nearest thousands)

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Question 12
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Problem Solving. The initial amount of lease liability is (round off answer to the nearest
thousands)

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Question 13
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Problem Solving. At the end of 2021, the current portion of lease liability is (round off
answer to the nearest thousands)

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Question 14
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Problem Solving. At the end of 2021, the noncurrent portion of lease receivable is (round off
answer to the nearest thousands)

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Question 15
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Problem Solving. The total expense for the year 2022 is (round off answer to the nearest
thousands)

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Question 16
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Problem Solving. At XYZ’s perspective, the amount of net investment is (round off answer to
the nearest thousands)

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Question 17
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Problem Solving. Assuming the lessor is a dealer of the property being leased to ABC, the
initial amount of the lease receivable is (round off answer to the nearest thousands).

Answer: