SOAL LATIHAN LEASING

1. Empat situasi berikut ini merupakan skema direct financing lease dengan
pembayaran tahunan sebesar Rp10.000.000 yang jatuh tempo tiap awal tahun.
Seluruh skema memiliki asumsi memenuhi kriteria finance lease. Untuk awal
perjanjian leasing, tentukan:
a. Gross Investment lessor
b. Net Investment lessor
c. Lease Liablity

2. On January 1, 2011, the Mario Bross Inc leased manufacturing equipment from
the Luigi Company. The following information about this lease is available:
Noncancelable term of the lease: 10 years, no bargain purchase option
The residual value of the equipment at the end of 15 years is expected to be

$5,000.
Economic life of equipment: 15 years
Fair value (cost to the lessor) of the equipment: $375,000
Lease payments, due at the end of each year: $55,000
Mario Bross Incs incremental borrowing rate: 12%. (The implicit rate is not

known by Mario Bross Inc)

Mario Bross Incs depreciation method: straight-line
Required:
a) Based on the above information:
(i)
Classify the lease from the lessee's viewpoint
(ii)
Prepare lessees journal entry for 2011 and 2012
b) Assume the same facts as above, except that the amount of the yearly lease
payments is
$65,000 and the economic life of the equipment is 10 years.
(i)
Classify the lease from the lessee's viewpoint
(ii)
Prepare lessees journal entry for 2011 and 2012
c) Use the same information as in part (b), assuming the collectibility of the
lease payments is reasonably assured. Initial direct costs are insignificant and

assumed to be zero, there are no important uncertainties involved in the

lease.
(i)
Classify the lease from the lessor viewpoint
(ii)
Prepare lessor journal entry for 2011 and 2012
d) Use the original information in Problem 1 above, with the following changes:
The lease contains a bargain purchase option. Mario Bross Inc is expected to
pay $6,000 at the end of 10 years to purchase the equipment. The residual
value of the equipment at the end of 15 years is expected to be $5,000.
(i)
Classify the lease from the lessee's viewpoint
(ii)
Prepare lessees journal entry for 2011 and 2012
3. On December 31, 2016, Lexcorp leased a delivery truck from Jialing Inc. Jialing
paid $40,000 for the truck. Its retail value is $45,114. The lease agreement
specified annual payments of $11,000 beginning December 31, 2016, the
inception of the lease, and at each December 31 through 2019. Jialings interest
rate for determining payments was 9% (known by Lexcorp). At the end of the
four-year lease term (December 31, 2020) the truck was expected to be worth
$15,000. The estimated useful life of the truck is five years with no salvage
value. Both companies use straight-line depreciation.
Lexcorp guaranteed the residual value for a maximum amount of $6,000. Takaful
Assurance Corporation (third party) was engaged to guarantee the remaining
residual value. Lexcorps incremental borrowing rate is 8%. A $1,000 per year
maintenance agreement was arranged for the truck with an outside service firm.
Lexcorp agreed to pay this fee. The amount is reflected in the $11,000 lease
payments. Collectibility of the lease payments by Lexcorp is reasonably
predictable and there are no costs to the lessor that are yet to be incurred.
Required:
a. Determine lease classification for Lexcorp! Explain why!
b. Calculate the amount Lexcorp would record as leased asset and leased
liability!
c. Determine lease classification for Jialing! Explain why!
d. Show how Jialing calculated the $11,000 annual lease payment!
e. Prepare journal entries for both Lexcorp and Jialing on December 31, 2016
and 2017!
f. Prepare amortization schedule for both Lexcorp and Jialing!
g. Prepare journal entries for both Lexcorp and Jialing on December 31, 2020,
assuming the truck is returned to the lessor and the actual residual value is
$4,000 on that date.