aimtobeacpa Major Contributor
Joined: 10 Dec 2009
Online Status: Offline Posts: 657
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Posted: 28 Oct 2010 at 19:12 | IP Logged
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The market price and selling price of an asset sold and leased back is
$900. The carrying value is $600. The present value of the lease
payments is $100. The lease is an operating lease. What amount of
deferred gain should be reported on the sale?
__________________ BEC-74,82(lost credit),78
FAR-67,80
AUD-75
REG-68,72,79
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