Matching
Match each transaction to its accounting effect You may use each choice more than once or not at all
Premises:
Acquired the use of equipment under a capital lease
Paid the interest portion of the payment on a capital lease
Paid the principal portion of the payment on a capital lease
Depreciation of equipment leased under a capital lease
Acquired the use of equipment under an operating lease
Payment required on an operating lease
Responses:
+ A and + L
+ A and + SE
– A and – L
– A and – SE
No change in total A, L, SE
Correct Answer:
Premises:
Responses:
Acquired the use of equipment under a capital lease
Paid the interest portion of the payment on a capital lease
Paid the principal portion of the payment on a capital lease
Depreciation of equipment leased under a capital lease
Acquired the use of equipment under an operating lease
Payment required on an operating lease
Premises:
Acquired the use of equipment under a capital lease
Paid the interest portion of the payment on a capital lease
Paid the principal portion of the payment on a capital lease
Depreciation of equipment leased under a capital lease
Acquired the use of equipment under an operating lease
Payment required on an operating lease
Responses:
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