Presented below is the lease portion of the lease notes to the fi nancial statements of Rondo

Question:

Presented below is the lease portion of the lease notes to the fi nancial statements of Rondo Industries, Inc.

       Rondo Industries, Inc.
Notes to the Financial Statements

Leases The present value of future minimum capital lease payments and the future minimum lease payments under non-cancelable operating leases at December 31, 2010, are:

                                

Rent expense for operating leases was $38.1 million for the current year and $31.2 million for the preceding year.
Instructions
What type of leases does Rondo Industries, Inc. use? What is the amount of the current portion of the capital lease obligation?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial and managerial accounting

ISBN: 978-1118016114

1st edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

Question Posted: