Multiple Choice
On January 1,2014 Lessee Company entered into a five-year lease which required annual payments of $60,000.The first payment was due at the inception of the lease.The present value of the minimum lease payments to record the lease was $250,192;the applicable discount rate was 10%.Lessee Company treated the lease as a capital lease.What is the balance of Lessee Company's lease liability as of December 31,2014?
A) $209,211
B) $275,211
C) $190,192
D) $149,211
Correct Answer:
Verified
Correct Answer:
Verified
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