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)capital lease liability in the current liability section
C)capital leases liability in the long-term liability section
D)rent expense on the income statement

Question

Quizplus · Accepted Answer

Rent expense appears on the income statement, not the balance sheet. A capital lease involves recording the leased asset and corresponding liability on the balance sheet, along with accumulated depreciation.

Which of the Following Accounts Would Not Appear on the Balance