Which of the following accounts would not appear on the balance sheet of a lessee company recording a capital lease?
A) Accumulated depreciation on the leased asset
B) Lease obligation in the current liability section
C) Lease obligation in the long-term liability section
D) Rent expense on the income statement

Question

Quizplus · Accepted Answer

Rent expense is reported on the income statement, not the balance sheet. Accumulated depreciation, current lease obligations, and long-term lease obligations related to a capital lease are all reported on the balance sheet.

Which of the Following Accounts Would Not Appear on the Balance