Delta Air Lines, Inc. reports total net operating assets of $6,829 million, net nonoperating liabilities of $8,960
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Delta Air Lines, Inc. reports total net operating assets of $6,829 million, net nonoperating liabilities of $8,960 million, and equity of $(2.131) in its 2012 10-K. Footnotes reveal the existence of operating leases that have a present value of $6,475 million.
a. What balance sheet adjustment(s) might we consider relating to the leases before we forecast financial statements?
b. What income statement adjustment(s) might we consider?
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Answer Before forecasting financial statements for Delta Air Lines Inc we need to consider adjustments related to the operating leases disclosed in th...View the full answer
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Related Book For 
Financial And Managerial Accounting For MBAs
ISBN: 9781618533593
6th Edition
Authors: Peter D. Easton
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