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