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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Lease Payment

Viewing 2 posts - 1 through 2 (of 2 total)
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  • March 14, 2022 at 5:54 am #651239
    Nabbella
    Participant
    • Topics: 2
    • Replies: 0
    • ☆

    Sharene entered into an agreement to lease an item of plant on 1 October 2019. The lease required four annual payments of $200,000 each, commencing on 1 October 2019. The plant has a useful life of four years and is to be scrapped at the end of this period. The present value of the lease payments is $700,000. The implicit interest rate within the lease is 10%. What is the amount of right-of-use assets as at 31 March 2020?

    March 17, 2022 at 7:20 pm #651437
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7171
    • ☆☆☆☆☆

    Hi,

    It usually helps if you attempt the question first and then I can help you with where you have gone wrong. I don’t like to just answer a question for you fully as this does not benefit your learning.

    If you show me what you’ve done then I’ll gladly help you out.

    Thanks

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