Question
Warren Co. recorded a right-of-use asset of $810,000 in a 9-year finance lease. The interest rate charged by the lessor was 10%. The balance in
Warren Co. recorded a right-of-use asset of $810,000 in a 9-year finance lease. The interest rate charged by the lessor was 10%. The balance in the right-of-use asset after 3 years will be:
Multiple Choice
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$900,000.
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$640,000.
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$540,000.
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$1,000,000.
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens
7th Edition
0912503688, 978-0912503684
