Accounting for leases with guaranteed and unguaranteed residual value


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Dec 25, 2018
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Iran, Islamic Republic Of
Hi

We use IAS17 for leases in our country. I have a problem that i don't know how to solve it. In the problem the lessee guarantees $200 residual value and the lessor estimates $100 as unguaranteed residual value.If at the end of the lease the fair value of the residual value is $350 how much gain and loss the lessee and lessor record in their journal entry when the asset returns to the lessor.
 
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