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ashlen ashlen
wrote...
Posts: 196
6 years ago
Ryan Company leased an asset that qualified as a finance lease for accounting purposes and an
operating lease for Canada Revenue Agency (CRA) purposes. Ryan Company assumed all
maintenance costs. Selected financial data for the company include insurance $2,500; interest
$7,657; amortization $11,234 and general office supplies $1,500. The annual lease payment
amounts to $25,000. The temporary difference for tax purposes during the year amounts to:
A) 0
B) $2,109
C) $3,609
D) cannot be determined
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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6 years ago
C
ashlen Author
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6 years ago
This calls for a celebration Person Raising Both Hands in Celebration
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