Wal-mart stores inc is the worlds largest retailer a large

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Wal-Mart Stores, 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: Balance Sheet 2011 2010 Assets Property: Property under capital lease $5,509 $5,669 Less: Accumulated amortization Liabilities Current Liabilities: Obligations under capital leases due within one year 336 346 Long-term debt: Long-term obligations under capital leases 3,150 3,170

Required:

1). Discuss some possible reasons why Walmart leases rather than purchases most of its premises.

2). The net asset "property under capital lease has a 2011 balance of $2,729 million. Liabilities for capital leases total $3,486 ($336+3,150). Why do the asset and liability amounts differ?

Reference no: EM13569987

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