Complete Foods Markets reports lease information in its 2016 annual report (in thousands). Excerpts follow:
The present values of future minimum obligations for capital leases shown above are calculated based on interest rates determined at the inception of the lease, or upon acquisition of the original lease.
What economic liability is omitted from Complete Foods' balance sheet? Describe the effect on assets, liabilities and equity if this liability was included on Complete Foods' balance sheet.

Question

Complete Foods Markets reports lease information in its 2016 annual report (in thousands). Excerpts follow:
  The present values of future minimum obligations for capital leases shown above are calculated based on interest rates determined at the inception of the lease, or upon acquisition of the original lease.
What economic liability is omitted from Complete Foods' balance sheet? Describe the effect on assets, liabilities and equity if this liability was included on Complete Foods' balance sheet.

Quizplus · Accepted Answer

The Answer of Complete Foods Markets reports lease information in its 2016 annual report (in thousands). Excerpts follow:
  The present values of future minimum obligations for capital leases shown above are calculated based on interest rates determined at the inception of the lease, or upon acquisition of the original lease.
What economic liability is omitted from Complete Foods' balance sheet? Describe the effect on assets, liabilities and equity if this liability was included on Complete Foods' balance sheet.

Complete Foods Markets Reports Lease Information in Its 2016 Annual