A company acquired an item of plant under a lease on 1 April 20X7. The present value of the lease payments
was $15.6 million and the rentals are $6 million per annum paid in arrears for three years on 31 March each
The interest rate implicit in the lease is 8% per annum.
What amount will appear under current liabilities in respect of this lease in the statement of financial position at
31 March 20X8? [Answers to nearest $’000]
Initial liability 15,600
Interest 8% 1,248
Balance 31.3.X8 10,848
Interest 8% 868
Balance 31.3.X9 5,716
My question is why the answer shows balance for 31.3.X9 while the requirement is for balance 31.3.X8?
This question is not relevant to this (AB) forum. Please repost appropriately.
The topic ‘Lease’ is closed to new replies.