68. Assume U.S. GAAP (generally accepted accounting principles) applies unless
otherwise noted.
On 1 January 2008 a company enters into a lease agreement to lease a piece of
machinery as the lessor with the following terms:
Annual lease payment due 31 December $75,000
Lease term 6 years
Estimated useful life of the machine 7 years
Estimated salvage value of the machine $0
Carrying value (cost) of leased asset $300,000
Implied interest rate on lease 7%
The firm is reasonably assured of the collection of the lease payments.
The total affect on 2008 pre-tax income for the lessor from this lease is closest to:
A. $32,143.
B. $75,000.
C. $82,519.
Bạn đang xem 68. - CFA MOCK EXAM LEVEL I MOCK EXAM AFTERNOON 2009
