Assume a government leases equipment to be used in governmental activities under a noncancelable lease, meeting the
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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 and the payments on the lease be reported in the government’s financial statements?
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In government financial statements the reporting of a capital lease and its associated payments would generally follow the guidelines outlined in Gove...View the full answer
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Related Book For 
Essentials of Accounting for Governmental and Not for Profit Organizations
ISBN: 978-1259741012
13th edition
Authors: Paul A. Copley
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