ACCT_101_Homework_4_Spring_2009 CORRECTED

ACCT_101_Homework_4_Spring_2009 CORRECTED - ACCT 101...

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ACCT 101 Homework #4 (Spring 2009) CORRECTED May 8, 2009 Please refer to IBM’s 10-K for the fiscal year ended December 31, 2008 (i.e., the 2008 fiscal year) that is posted in the Course Materials folder on webCafé when answering these homework questions. All numbers are reported in millions of dollars unless otherwise noted. You can take the homework as many times as you wish but only the final set of answers will be recorded and these answers will determine your grade for the assignment. Good luck. 1. What is the total amount of rent expense that IBM will show in fiscal 2009 relating to operating leases in place at December 31, 2008? $1,481 (Note S) [1,429 also accepted] 2. What is the payment on capital lease that IBM will make in fiscal 2009 relating to capital lease in place at December 31, 2008? $57 (Note S) 3. Which statement is false? A. Expenses related to capital leases include amortization (depreciation expense) and interest expense. B. In the early years of a lease, expenses under a capital lease are generally higher expenses under the same lease accounted for as an operating lease.
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