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ules, Inc. preparing its year-end financial statements. Based on a review of its leases, notes that the following amounts have not been recorded. Amortization on
ules, Inc. preparing its year-end financial statements. Based on a review of its leases, notes that the following amounts have not been recorded. Amortization on right-of-use leased assets in the amount of $35,000 Amortization on the assets classified as financing leases in the amount of $20,000 Accrued interest on financing leases in the amount of $1,500 Increase in the current portion of lease liabilities in the amount of $4,100 For the year ending December 31, 2027. what amounts will Jules record to the following elements of the accounting equation? Here is an example of the format: $x,xxx increase OR $x,xxx decrease or $0 no change The way to approach this problem is to draw out the accounting equation. Then fill in the boxes. The boxes read left to right: Current assets A c Current labbilities Af = Eong-term liabifities: E Operating expenses: A Non-operating expenses ules, Inc. preparing its year-end financial statements. Based on a review of its leases, notes that the following amounts have not been recorded. Amortization on right-of-use leased assets in the amount of $35,000 Amortization on the assets classified as financing leases in the amount of $20,000 Accrued interest on financing leases in the amount of $1,500 Increase in the current portion of lease liabilities in the amount of $4,100 For the year ending December 31, 2027. what amounts will Jules record to the following elements of the accounting equation? Here is an example of the format: $x,xxx increase OR $x,xxx decrease or $0 no change The way to approach this problem is to draw out the accounting equation. Then fill in the boxes. The boxes read left to right: Current assets A c Current labbilities Af = Eong-term liabifities: E Operating expenses: A Non-operating expenses
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