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Magic Empire Global (Magic Empire Global) Long-Term Capital Lease Obligation : $0.00 Mil (As of Dec. 2023)


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What is Magic Empire Global Long-Term Capital Lease Obligation?

Magic Empire Global's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.00 Mil.

Magic Empire Global's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 ($0.22 Mil) to Jun. 2023 ($0.10 Mil) and declined from Jun. 2023 ($0.10 Mil) to Dec. 2023 ($0.00 Mil).

Magic Empire Global's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($0.47 Mil) to Dec. 2022 ($0.22 Mil) and declined from Dec. 2022 ($0.22 Mil) to Dec. 2023 ($0.00 Mil).

Magic Empire Global Long-Term Capital Lease Obligation Historical Data

The historical data trend for Magic Empire Global's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Magic Empire Global Long-Term Capital Lease Obligation Chart

Magic Empire Global Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Long-Term Capital Lease Obligation
- 0.47 0.22 -

Magic Empire Global Semi-Annual Data
Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Long-Term Capital Lease Obligation Get a 7-Day Free Trial 0.47 0.35 0.22 0.10 -

Magic Empire Global  (NAS:MEGL) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Magic Empire Global Long-Term Capital Lease Obligation Related Terms

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Magic Empire Global (Magic Empire Global) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Magic Empire Global Ltd (NAS:MEGL) » Definitions » Long-Term Capital Lease Obligation
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Traded in Other Exchanges
N/A
Address
3/F, 8 Wyndham Street, Central, Hong Kong, HKG
Website
https://www.meglmagic.com
Magic Empire Global Ltd is a financial services provider in Hong Kong which principally engaged in the provision of corporate finance advisory services and underwriting services.