Refer to Canadian Tire's financial statements in Appendix A at the end of this book. 1. Canadian

Question:

Refer to Canadian Tire's in Appendix A at the end of this book.
1. Canadian Tire's reports a current portion of long-term debt under current liabilities. Why is this portion of long-term debt reported as a current liability?
2. Canadian Tire's Notes to the include note 36, "Operating leases." What information does this provide to the user of these Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...