Walmart Inc. is the world's largest retailer. A large portion of the premises that the company...
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Walmart Inc. is the world's largest retailer. A large portion of the premises that the company occupies are leased. Its financial statements and disclosure notes revealed the following information: (Amnes in millim ASSETS Current assets Cast and cash equa Ravevable nd Invoies Prepaid exponies and other Total cums Property and equipment: Popoty and equipment Lew wodated deprecate and c Property under capital lease and financing obligations Property dor capital a obligations Les acumulated amoun Goodwill Other long-term an Total assets LIABILITIES AND EQUITY Current liabilities: Accounts payable Accrued come lases Capital Y Total cu lubilac Walmart Inc. Consolidated Balance Sheets An of January 31. 2019 4429 GLAVT 185319 (81,493) 11,01 1XN 41.920 11,941 2918 3,301 185,354 12.300 1830 11,7H JMG 645 667 WASK Required: 1. The net asset "property under finance lease obligations" has a balance of $7,078 million in 2019. The total lease liabilities are $7,412 million (729 current +6,683 long-term). Why do the assets and liability amounts associated with leases differ? Walmart Inc. is the world's largest retailer. A large portion of the premises that the company occupies are leased. Its financial statements and disclosure notes revealed the following information: (Amnes in millim ASSETS Current assets Cast and cash equa Ravevable nd Invoies Prepaid exponies and other Total cums Property and equipment: Popoty and equipment Lew wodated deprecate and c Property under capital lease and financing obligations Property dor capital a obligations Les acumulated amoun Goodwill Other long-term an Total assets LIABILITIES AND EQUITY Current liabilities: Accounts payable Accrued come lases Capital Y Total cu lubilac Walmart Inc. Consolidated Balance Sheets An of January 31. 2019 4429 GLAVT 185319 (81,493) 11,01 1XN 41.920 11,941 2918 3,301 185,354 12.300 1830 11,7H JMG 645 667 WASK Required: 1. The net asset "property under finance lease obligations" has a balance of $7,078 million in 2019. The total lease liabilities are $7,412 million (729 current +6,683 long-term). Why do the assets and liability amounts associated with leases differ?
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Posted Date:
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