On January 1, 2010, a city entered into the following leases for equipment items.Each of the leases qualifies as a capital lease.Initial payments are on December 31, 2010.An interest rate of 10 percent is viewed as appropriate.No bargain purchase options exist. 11eb9247_6058_880e_a81e_c5605cf7c89f_SM1528_00 a.What balances should be reported on government-wide financial statements for December 31, 2010, and the year then ended b.What balances should be reported on fund-based financial statements for December 31, 2010, and the year then ended

Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

النسخة 10الرقم المعياري الدولي: 978-1260575910

Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

النسخة 10الرقم المعياري الدولي: 978-1260575910

تمرين 68

On January 1, 2010, a city entered into the following leases for equipment items.Each of the leases qualifies as a capital lease.Initial payments are on December 31, 2010.An interest rate of 10 percent is viewed as appropriate.No bargain purchase options exist.

a.What balances should be reported on government-wide financial statements for December 31, 2010, and the year then ended
b.What balances should be reported on fund-based financial statements for December 31, 2010, and the year then ended

التوضيح

موثّق

Capital lease obligation
General fund $...