Which of the following is a required disclosure by a lessee of a capital lease?
A)total contingent rentals incurred for each period
B)lease assets, accumulated amortization, amortization expense, and liabilities
C)future minimum lease payments in total as of the balance sheet date and for each of the five succeeding fiscal years
D)all of these

Question

Quizplus · Accepted Answer

All of these disclosures are required by a lessee of a capital lease. A lessee must disclose the total contingent rentals incurred for each period, lease assets, accumulated amortization, amortization expense, and liabilities, as well as future minimum lease payments in total as of the balance sheet date and for each of the five succeeding fiscal years.

Which of the Following Is a Required Disclosure by a Lessee