[benni]

Passed on my first attempt with 66% thanks to mike sir it was only bcz of u I could pass and thanks clearing all my queries that helped me lot in exam .. thank u for everything

[benni]

Hmm it’s ok sir I came to know that if the lease starts for 6 moths v can find out NCL through that format
Actually when I had written online mock Dec 2017 it had come I did not know how to answer it and in BPP 163 Fino case sum it has come question is like this

On 1 April 20X7, Fino increased the operating capacity of its plant. On the recommendation of the finance director,
Fino entered into an agreement to lease the plant from the manufacturer. The initial measurement of the lease liability
is $350,000. The lease required four annual payments in advance of $100,000 each commencing on 1 April 20X7. The
rate of interest implicit in the lease is 10%. The lease does not transfer ownership of the plant to Fino by the end of the
lease term and there is no purchase option available
What is the amount that should be shown under non-current liabilities at 30 September 20X7 in respect of this
plan?

[benni]

In technical article f7 11th topic is accounting for lease under that I saw this new topic and they had explained with this example

I did not come to know how do v come to know that this problem is split lease answer for this problem is 35000-100000+1250+1250 =27500

[Author]

Posts