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In concert with the International Accounting Standards Board, the FASB is rethinking accounting for leases. Because obligations to make operating lease payments contribute to a company's riskiness, some accountants speculate that new lease standards might require leases now considered to be operating leases to be capitalized the way we now record capital leases.
Refer to the financial statements and related disclosure notes of Dell Inc., located in the company's 2009 financial statements and related disclosure notes in Appendix B located at the back of the text. You also can locate the 2009 report online at www.dell.com. Find disclosure note 10, "Commitments and Contingencies." Note the discussion of Dell's lease commitments for certain of its property and equipment, manufacturing facilities, and office space.
Required:
1. What is the total of Dell's operating lease commitments?
2. If the operating leases were capitalized, approximately how much would that increase Dell's debt?
3. Referring also to Dell's balance sheet, determine the effect that capitalizing the leases would have on the company's debt-equity ratio.
Refer to the situation described in BE 11-2. Assume the machine was purchased on March 31, 2011, instead of January 1. Calculate depreciation expense for 2011 and 2012 using each of the following depreciation methods:
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