Question Youya Co. Ltd acquires a 2 new Goods Vehicle under a finance lease (to be treated as a loan) for $ 70,000 and a term of 7 years. Youya's balance sheet reflects this transaction as Long term asset: Vehicle 70000 Current liability: Finance lease 70000 Long term asset: Vehicle 70000 Long term liability: Finance lease 70000 Current asset: Vehicle 70000 Long term liability: Finance lease 70000 Long term asset: Vehicle 10000 Long term liability: Finance lease 10000
Question Youya Co. Ltd acquires a 2 new Goods Vehicle under a finance lease (to be treated as a loan) for $ 70,000 and a term of 7 years. Youya's balance sheet reflects this transaction as Long term asset: Vehicle 70000 Current liability: Finance lease 70000 Long term asset: Vehicle 70000 Long term liability: Finance lease 70000 Current asset: Vehicle 70000 Long term liability: Finance lease 70000 Long term asset: Vehicle 10000 Long term liability: Finance lease 10000
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Transcribed Image Text:Question Youya Co. Ltd acquires a
2
new Goods Vehicle
under a finance lease (to
be treated as a loan) for
$ 70,000 and a term of 7
years.
Youya's balance sheet
reflects this transaction
as
Long term asset: Vehicle 70000
Current liability: Finance lease 70000
Long term asset: Vehicle 70000
Long term liability: Finance lease
70000
Current asset: Vehicle 70000
Long term liability: Finance lease
70000
Long term asset: Vehicle 10000
Long term liability: Finance lease
10000
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