A capital (or finance) lease results in both an asset and a liability on a companys balance

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“A capital (or finance) lease results in both an asset and a liability on a company’s balance sheet.” Explain.

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Introduction to Financial Accounting

ISBN: 978-0133251036

11th edition

Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick

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Question Posted: Feb 20, 2015 09:07 AM

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A capital (or finance) lease results in both an asset and a liability on a companys balance

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A capital or finance lease is equivalent to the purchase of an asset and ...View the full answer

Introduction to Financial Accounting

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