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A company intends to acquire a 3 year lease of land and buildings around
May 2021 since it wants to establish a branch in hiroshima. The company
intends to pay Ugx 100,000,000 as initial cash deposit during the same month.
Negotiations have already commenced and it has been agreed that lease
payments payable at the beginning of each year will be $ 80,000,000 per
annum for the years 2022, 2023 and 2024. The interest rate has tentatively been agreed at 15% per annum. Charge full year depreciation for the leased
asset.
Prepare a SOPL & SOFP fo ye 31/12/22
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