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nts) Merganser recently leased a new asset. Among other contract terms, the lease has a guaranteed residual of $49,500, which is equal to the expected residual value at the end of the lease. The present value of the lease payments are $452,515 and the present value of the residual is $33,689. How much will Merganser record as a lease liability at the beginning of the lease? (IFO ¹3 & 15) O $486,203 O $452,515 O $502,015 $418.826

nts) Merganser recently leased a new asset. Among other contract terms, the lease has a guaranteed residual of $49,500, which is equal to the expected residual value at the end of the lease. The present value of the lease payments are $452,515 and the present value of the residual is $33,689. How much will Merganser record as a lease liability at the beginning of the lease? (IFO ¹3 & 15) O $486,203 O $452,515 O $502,015 $418.826

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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nts) Merganser recently leased a new asset. Among other contract terms, the lease has a guaranteed residual of $49,500, which is equal to the expected residual value at the end of the lease. The present value of the lease payments are $452,515 and the present value of the residual is $33,689. How much will Merganser record as a lease liability at the beginning of the lease? (IFO 13 & 15) O $486,203 O $452,515 O $502,015 O $418,826
Transcribed Image Text:nts) Merganser recently leased a new asset. Among other contract terms, the lease has a guaranteed residual of $49,500, which is equal to the expected residual value at the end of the lease. The present value of the lease payments are $452,515 and the present value of the residual is $33,689. How much will Merganser record as a lease liability at the beginning of the lease? (IFO 13 & 15) O $486,203 O $452,515 O $502,015 O $418,826
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