Question
Blue Co. recorded a right-of-use asset of $190,000 in a 10-year operating lease. Payments of $33,627 are made annually at the end of each year.
Blue Co. recorded a right-of-use asset of $190,000 in a 10-year operating lease. Payments of $33,627 are made annually at the end of each year. The interest rate charged by the lessor was 12% and was known by Blue. The balance in the right-of-use asset after two years will be:
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Edition
047116920X, 978-0471169208
