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From January 1, 2011, company leases a van from Georgia for 4 years at $12000 per year. The useful life of this van is 5
From January 1, 2011, company leases a van from Georgia for 4 years at $12000 per year. The useful life of this van is 5 years, and the market value of this van on January 1, 2011 was $40,450. There is no bargain clause, and the van will be returned to Georgia at the end of the lease term. What type of lease is this Operating lease? Capital lease? Or we dont have enough information
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
