Suppose a firm entered into a capital lease (or a right‐of‐use asset), debiting an asset account...
Suppose a firm entered into a capital lease (or a right‐of‐use asset), debiting an asset account and crediting a lease liability account for $150,000. Does this transaction need to be disclosed as part of the statement of cash flows? If so, where?
Homework Answers
As per the infromation given in the question, there is no inflow or outlow of cash.
So is need not be reported in the cash flow statement
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Suppose a firm entered into a capital lease (or a right‐of‐use
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