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Compute and discuss the debt to total assets ratio

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FX Corporation leases new equipment on December 31, 2012. The lease transfers ownership to FX at the end of the lease. The present value of the lease payments is $240,000. After recording this lease, FX has assets of $2,000,000, liabilities of $1,200,000, and stockholders' equity of $800,000. (a) Prepare the entry to record the lease, and (b) compute and discuss the debt to total assets ratio at year-end.

Reference no: EM13513566

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