Refer to the information in A22-15; Zandi?s financial statements contain the following note disclosure: Commitments:The company has
Question:
Refer to the information in A22-15; Zandi?s financial statements contain the following note disclosure:
Commitments:The company has commitments for operating lease payments for the next five years as follows:
Required:Determine how this additional information would affect the ratios for Zandi that are required in A22-15. Assume that the disclosed lease payments are due at the end of each year and that Zandi?s incremental borrowing rate is 6%. Ignore any income tax impact.
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Present value of the lease commitments to be added to longterm de...View the full answer
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