or companies renting equipment nder leases (iesseedj tht to effect on 1/1/2019 for publicly traded companies will: Increase the dollar value of assets and liabilities reported on the balance sheet b. Decrease the dollar value of assets and liabilities reported on the balance sheet C. Decrease the dollar value of assets and increase the dollar value of liabilities reported on the balance sheet d. Increase the dollar value of assets and decrease the dollar value of liabilities reported on the balance sheet e. Increase total expense recorded over the life of the lease f. Decrease total expense recorded over the life of the lease Recording a journal entry to recognize the impairment of a long lived asset: a. has no effect on net income, decreases assets, and decreases stockholders' equity b. decreases net income, increases liabilities, and decreases stockholders' equity c. decreases net income, decreases assets, and decreases stockholders' equity d. has no effect on net income, decreases assets, and decreases liabilities. For a defined benefit pension plan, if the Pension Liability (PBO) exceeds the value of Plan Assets . on a balance sheet date, the balance sheet will generaly report: a. The PBO as a liability and the Plan Assets as an asset b. The difference between the PBO and the Plan Assets as a liability c. The difference between the PBO0 and the Plan Assets as an asset d. None of the above On January 1, year 1, the Colorado Company purchased custom made machinery and signed a note promising to pay $30,000 due in 3 years. This amount represents the total future payment due which includes interest. The implicit interest rate is 8 percent. At what amount would Colorado report the note on its December 31, year 1 balance sheet? a. $23,815 b. $25,720 c. $32,400 14. d. $30,000