Presented below is the lease portion of the lease notes to the fi nancial statements of Rondo
Question:
Presented below is the lease portion of the lease notes to the fi nancial statements of Rondo Industries, Inc.
Rondo Industries, Inc.
Notes to the Financial Statements
Leases The present value of future minimum capital lease payments and the future minimum lease payments under non-cancelable operating leases at December 31, 2010, are:
Rent expense for operating leases was $38.1 million for the current year and $31.2 million for the preceding year.
Instructions
What type of leases does Rondo Industries, Inc. use? What is the amount of the current portion of the capital lease obligation?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted: