Ruby's Cube Designers Has a Balance Sheet with $216,332 in Total

question 112

Multiple Choice

Ruby's Cube Designers has a balance sheet with $216,332 in total assets, $26 987 in debt and $189345 in equity. The company is about to lease new computers for a 3-year term at a rate of 7.75%and annual payments of $11 018. The useful life of the computers is 5 years. and their purchase costis $37 755. The lessor retains ownership of the computers and the contract has a purchase option so that Ruby's may purchase the computers at the end of the lease at fair market value, estimated at $4000. On the company's balance sheet, what will the amount of total assets be on the day the leasecontract is signed?

• A) $216 332
• B) $247 066
• C) $251 066
• D) $220 332

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Definitions:

Middle Adulthood

A stage of life, typically considered to be from about 45 to 65 years of age, characterized by stability, sound relationships, and a sense of contributing to society.

Adolescence

The transitional stage of physical and psychological development that generally occurs during the period from puberty to legal adulthood.

Muscular Strength

The maximal force that a muscle or group of muscles can exert in a single effort.

Sensory Keenness

The heightened ability to perceive stimuli through the senses.