All of the following statements regarding leases are true except : A. For a capital lease the lessee records the leased item as its own asset. B. Capital leases do not transfer ownership of the asset under the lease, but operating leases often do. C. Capital leases create a long-term liability on the balance sheet, but operating leases do not. D. For a capital lease the lessee depreciates the asset acquired under the lease, but for an operating lease the lessee does not. E. For an operating lease the lessee reports the lease payments as rental expense.

THIS USER ASKED πŸ‘‡ All of the following statements regarding leases are true except : A. For a capital lease the lessee records the...

Camile Plastics Company had the following total assets, liabilities, and equity as of December 31. Assets $430,000 Liabilities 132,000 Equity 298,000 What is the company’s debt ratio as of December 31? (Round your percentage answer to two decimal places.) A) 44.30% B) 30.70% C) 100.00% D) 69.30%

THIS USER ASKED πŸ‘‡ Camile Plastics Company had the following total assets, liabilities, and equity as of December 31. Assets $430,000 Liabilities 132,000 Equity...