Question
balance sheet asset property: 2011 2010 property under capital lease 5,509 5,669 less : accumulated amortization (2,780) (2,906) Liabilities current liabilities obligations under capital leases
balance sheet
asset
property: 2011 2010
property under capital lease 5,509 5,669
less : accumulated amortization (2,780) (2,906)
Liabilities
current liabilities
obligations under capital leases due within one year 336 346
long-term debt:
long-term obligations under capital leases 3,150 3,170
1. discuss some possible why Wal-Mart leases rather than purchases most of its premises
2.the net asset "property under capital lease" has a 2011 balance of $2,729 million (5,509-2,780 Liabilities for capital leases total3,486 (336+3,150) why do the asset and liability amount differ?
3.prepare a 2011 summary entry to record Wal-Mart's lease payments, which were 600 million
4.what is the approximate average interest rate Wal-Mart's capital lease? hint see req 3
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