Font Paragraph 1 9. On December 30, 20x8, Rafferty Corp. leased equipment, Annual lease payments of 120,000 are due December 31 for 10 years. The equipment's useful life is 10 years, and the interes rate implicit in the lease is 10%. The present value of the lease payments on December 30, 20x8 before the first lease paymer is P135,000. The first lease payment was made on that date What amount should Rafferty include in current liabilities for this lease in its December 31, 20x8, balance sheet? a. 6,500 b. 8,500 11,500 d. 20,000 LAICPA) On July 1, 20x6. Gee, Inc., leased a delivery truck from Marr corp. under a year operating kaxe. Total rent for the term of the lease will be 1.36,000. payable as follows: 12 months at P 500 - P6000 12 months at P 750 - 9.000 12 months at P1.750 - 21.000 a. @ All payments were made when due. In Marr's June 30, 20x8. balance sheet the accued rent receivables should be reported as b 9.00 e. 12.000 21.00 AT On January 2, 201 Kess C. purchasi mashine for P10,000, and is depreciated using the straight-line methad it financial statement purposes. For tax Purposes deprevistice expest was P25,000 for 2 NL 120.000 Tor 20x2R 203 income, bi-fore income taxes and depreciation expenses, the P100,000 and its tax rate was 10%. Ross had made estimated tax payments during 2012, what amount of current income tax liability would Ross report in its December 31 21.00 202. balance sheart?! 26.00 b. 25800 HAPA d. 22.500