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BPP Kit 2015, Leases, Qs 57, Preparation: Branch, related to finance lease

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › BPP Kit 2015, Leases, Qs 57, Preparation: Branch, related to finance lease

  • This topic has 0 replies, 1 voice, and was last updated 9 years ago by Procrastinatedvalor.
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  • January 21, 2016 at 4:09 pm #297033
    Procrastinatedvalor
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    So, it’s related to finance lease and they want us to prepare extracts of SFP and SCI for Branch’s year ending 31 January, 20X1. I checked the answer and everything made sense except one thing. The finance lease non current liability at year end (31st December 20X1) should be 16924 but they say that it’s 14784, which should be non current liability at the year end of the next year, not current. We only have to make extracts for current year, but why do they state the liability at 14784, which should be at next year’s end. Why? What am I missing?

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