Where would the capital lease be report


Response to the following questions:

1. A concerned citizen provides resources and establishes a trust with the local government. What factors should be considered in determining which fund to report the trust activities?

2. Assume a government leases equipment to be used in governmental activities under a noncancelable lease, meeting the requirements for classification as a capital lease. Where would the capital lease be reported in the government's financial statements?

 

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Financial Accounting: Where would the capital lease be report
Reference No:- TGS02130184

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