Business, 02.04.2020 18:59, shaniqwakirkseyniqwa

On January 1, 2019, Blue Co. leased a new machine from Green Co. The following information pertains to the lease:Lease term 5 yearsAnnual rental payable at beginning of each year $ 55,000 Useful life of machine 7 yearsBlue’s incremental borrowing rate 12 %Implicit interest rate in lease (known by Blue) 10 %Present value of annuity of $1 in advance for 5 periods at 10% 4.17 12% 4.04 The cost of the machine on Green’s accounting records is $214,500. It is customized for Blue’s use with no alternative use to Green at the end of the lease term. At the beginning of the lease term, Blue Co. should initially record a right-of-use asset ofa. $214,500b. $222,200c. $229,350d. $174,350

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On January 1, 2019, Blue Co. leased a new machine from Green Co. The following information pertains...