The Joker has just been notified by his accountant (Poison Ivy), that he must report...
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Finance
The Joker has just been notified by his accountant (Poison Ivy), that he must report certain contents in his balance sheet. The contents in question is from a ruling that comes from the Financial Accounting Standards Boards, specifically item No. 13, which stipulates that for an unqualified audit report, financial (or capital) leases must be included in the balance sheet. From the items listed below, what must The Joker include in his report?
The Joker needs to report his residual value as a liability.
The Joker needs to report his residual value as a fixed asset.
The Joker needs to report his undiscounted amount of future lease payments as an asset and as an offsetting liability.
The Joker needs to report his undiscounted amount of future lease payments, less the residual value, as an asset and as an offsetting liability.
The Joker needs to report his present value of future lease payments as an asset and also showing this same amount as an offsetting liability.
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