Refer to the financial statements of PepsiCo and the Notes to Consolidated Financial Statements in Appendix A to answer the following questions about contingent liabilities , lease liabilities, and pension costs (a) Where does PepsiCo report its contingent liabilities (b) What is managements opinio...

a PepsiCo includes a section for contingent liabilities on its balance sheet with no dollar am ...

Refer to the financial statements of PepsiCo and the Notes to Consolidated Financial Statements in Appendix A

Question:

Refer to the of PepsiCo and the Notes to Consolidated in Appendix A to answer the following questions about , lease liabilities, and pension costs.
(a) Where does PepsiCo report its ?
(b) What is management’s opinion as to the ultimate effect of the “various claims and legal proceedings” pending against the company?
(c) Where did PepsiCo report the details of its lease obligations? What amount of rent expense from operating leases did PepsiCo incur in 2008? What was PepsiCo’s total future minimum annual rental commitment under non-cancelable operating leases as of December 27, 2008?
(d) What type of employee pension plan does PepsiCo have?
(e) What is the amount of postretirement benefit expense (other than pensions) for 2008?

Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a... 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...