Q1: Industry Research, Lease Adoption In their adoption of ASC 842 (Leases), companies in the travel and hospitality industry debated the question of whether hotel rooms are leases. Apply the research

Q1: Industry Research, Lease Adoption In their adoption of ASC 842 (Leases), companies in the travel and hospitality industry debated the question of whether hotel rooms are leases.

Apply the research process to this question as follows:

a. Research the industry—what are some companies that own or operate hotels?

b. Locate disclosures from one of these companies to get a better understanding for how they describe hotel room rentals (both from a business and an accounting perspective). Review, for example, the latest 10-K for one of the companies you identified.

c. Define the research question.

d. Stop and think: What answer makes sense to you, and what are the potential implications of this judgment?

e. Search for guidance. What guidance does the Codification offer that might address this issue?

f. Analyze and document the alternatives.

g. Conclude and justify your position.

Q2: Identifying Researchable Questions Facts: Imports Inc. is a U.S. public company and has a calendar year-end. Imports purchases auto parts from Korea and sells them to domestic car dealerships around the U.S. On November 1, 20X1, Imports received a shipment on account of $400,000 worth of shocks and struts from its Korean supplier. Unfortunately, the parts were defective. Faced with commitments to deliver working parts to its own customers, Imports paid $200,000 on 11/15/X1 to a domestic third party to fix the defective parts. However, even after the repair effort, the shocks and struts remained defective.

Imports has not yet paid the Korean company for the parts purchased.

In early December, Imports requested repayment from the manufacturer for its costs of repair ($200,000). However, when the manufacturer refused to pay, Imports sued the manufacturer on 12/15/X1 for its amount invested ($200,000) plus an additional $100,000 for lost revenues.

On February 2, 20X2, a U.S. court ruled in favor of Imports, awarding Imports Inc. $300,000, payable ratably in three monthly installments to begin on 2/15/X2.


1. Identify Import Inc.’s researchable questions as of 12/31/X1 related to this series of issues.

2. Identify Import Inc.’s researchable questions as of 2/2/X2 related to this series of issues.

Q3: Baseball Suites—Lease Evaluation The New York Yankees offer multiyear luxury suite licenses to customers, including 3-, 5-, and 10-year licenses. Customers who sign these license agreements have the right to use a specified suite in the stadium (say, suite no. 25) for the dates specified in the license agreement. Alternatively, customers with a more limited interest or budget can sign up for a partial season (a 20- or 41-game plan) where the customer can specify which games it wishes to view from the suite. While the customer is enjoying the suite, a third-party concessionaire (similar to Presto’s role) will provide premium food and beverage service to guests in the suite. Evaluate—is a suite license a lease? Assume a customer signs a 20-game license for specified games to occur within a single Major League Baseball season.

Q4: Sales Commissions, Writing an Email Assume the New York Yankees pay its sales staff a 2% sales commission on each luxury suite license contract signed (such as by a corporate customer). Research whether this commission payment should be reported as an asset or an expense by the New York Yankees. Craft your response in the form of an email, and assume you’re responding to a question asked to you by the accounting manager for the Yankees.

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10