NO.PZ2024011002000102
问题如下：
Assume U.S. GAAP applies unless otherwise noted. At the beginning of the year, a lessee company enters into a new lease agreement that is correctly classified as a finance lease, with the following terms:
With respect to
the effect of the lease on the company’s financial statements in the first year
of the lease, which of the following is most accurate? The reduction in the
company’s:
选项：
A.Pretax income is $72,096. B.Cash flow from financing is $56,742. C.Cash flow from operations is $72,096.解释：
The present value of the lease is $360,477.62. (n = 5, I = 12%, PMT = $100,000) 12% of the original PV is $43,257.31 and represents the interest component of the payment in the first year. The difference between the annual payment and the interest is the amortization of the lease obligation included in cash flow from financing. $100,000 – 43,257.31 = $56,742.69. Depreciation is $360,477.62 / 5 or $72,095.52 so the total reduction in pretax income would be interest plus depreciation or $115,352.83. Cash flow from operations would be reduced by the amount of the interest only because the depreciation would be added back to determine cash flow from operations.在USGAAP准则下对于lessee, principal流出的部份算作CFF, interest流出部份算作CFO。
但是对于lessee的finance leasses, cash outflow = principal outflow + interest outflow = CFF部份流出 + CFO部份流出
题目中指的是对本金还是对lease payment的reduction？为什是reduction的关系?
