balance sheet asset property: 2011 2010 property under capital lease 5,509 5,669

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 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

Explanation / Answer

f you agree with my answers than plzz rate it. if you have doubt i am happy to clarify it

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