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Lease Payment

This topic has 1 reply, 2 voices, and was last updated 10 months ago by P2-D2.

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March 14, 2022 at 5:54 am #651239
Nabbella
Member
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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
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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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