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What is the book value of the assets that hertz sold

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Reference no: EM132493115

Question 1) Notice that the largest cash outflow (inflow) relates to rental car acquisition (disposal).

a. In which section of the cash flow statement are these cash flows reported?

b. Does Hertz reports the cash flows related to the acquisition and disposal of rental cars in the appropriate section? If yes, explain why. If no, indicate which section would be reported these cash flows and explain why.

Question 2) In 2014, Hertz announced that there were material errors in its 2011-2013 financial statements. The full extent of the errors has not yet been determined and the company has not filed any quarterly financial statements for 2014. So far, there are two accounting issues: (i) Hertz under-depreciated the self-service kiosks and (ii) Hertz underestimated the amount of bad debt expense related to receivables from customers for damaged rental vehicles. What effect do each of these errors have on 2012 operating cash flows?

Question 3) What is the Book Value of the assets that Hertz sold during the year?

Question 4) If Hertz had leased the cars under operating leases, in which section would the cash flows be reported?

Reference no: EM132493115

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