Under the pre-2019 accounting standards, how are operating leases reported in the lessee's balance sheet?

Select one:

A. As an asset that is depreciated, similar to the company's other assets.

B. As either a short-term or long-term liability, depending on the length of the lease

C. At the present value of the future minimum lease payments.

D. Operating leases are not disclosed in the lessee's balance sheet or annual report.

E. None of the above

2)

Fey and Company has a projected balance sheet that includes the following accounts.

Cash	$ ?
Marketable securities	273,600
Accounts receivable	1,032,000
Inventory	588,000
Non-current assets, net	2,436,000
Current liabilities	583,200
Total liabilities	1,884,000
Total equity	2,858,400

What is the projected cash balance?

Select one:

a. $0

b. $412,800

c. $170,400

d. $542,400

3)

Which of the following does not represent a current liability?

Select one:

A. Accrual of taxes payable

B. Short-term loan

C. Purchase of inventory on credit

D. Bond issue

E. None of the above

4)

Ashbury Corporation reports 2016 and 2017 total revenues of $88.2 million and $100.8 million respectively. If we expect prior growth to persist, we would forecast a revenue growth rate of:

Select one:

a. 14%

b. 11%

c. 28%

d. 13%

e. None of these are correct