Solved: Show the imoacts of the lease transaction as it should be, Accounting Basics

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Show the imoacts of the lease transaction as it should be

Question 1: Show the imoacts of the lease transaction, as it should be accouted for, on the income statement, cash flow statement, and balance sheet of WorldCom.

Question 2: Provide two benefits that WorldCom received by accounting for the lease transaction in they way they did rather in question1 than the way you outlined in 2? Do you approve of their accounting treatment?

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Accounting Basics: Show the imoacts of the lease transaction as it should be

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