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Q13 Dasher Inc. leased equipment from Prancer Leasing Co. on July 1, 2021, in a sales-type lease. The present value of the lease payments discounted
Q13 
Dasher Inc. leased equipment from Prancer Leasing Co. on July 1, 2021, in a sales-type lease. The present value of the lease payments discounted at 8% was $90,000. Nine annual lease payments of $14,000 are due each July 1, beginning July 1, 2021. The total decrease in earnings (pretax) in Dasher's Dec. 31, 2021, income statement would be: $8,040$8,600$8,400 None of the options listed. $7,400 Step by Step Solution
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Accounting Theory Contemporary Accounting Issues
Authors: Thomas G. Evans
1st Edition
0324107846, 9780324107845
