What amount should n report as capitalized lease liability, Accounting Basics

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What amount should n report as capitalized lease liability

N Corp. entered into a nine-year capital lease on a warehouse on December 31, 2009. Lease payments of $26,000, which includes real estate taxes of $1,000, are due annually, beginning on December 31, 2010, and every December 31 thereafter. Neal does not know the interest rate implicit in the lease; N's incremental borrowing rate is 9%. The rounded present value of an ordinary annuity for nine years at 9% is 6.0. What amount should N report as capitalized lease liability at December 31, 2009?

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Accounting Basics: What amount should n report as capitalized lease liability

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Accounting Basics: What amount should n report as capitalized lease liability

Reference No:- TGS066899

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should n report as capitalized lease liability

Reference No:- TGS066899

Recent Questions Asked Accounting Basics

Q : Total budgeted direct labor costs

Q : What amount did tmc receive from the bond issuance

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Q : What amount should n report as capitalized lease liability

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Q : Which economist is likely to favor proposed change in policy

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