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Leases

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Leases

  • This topic has 3 replies, 2 voices, and was last updated 2 years ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 17, 2022 at 10:05 am #671699
    anshika1415
    Participant
    • Topics: 4
    • Replies: 5
    • ☆

    An entity leases a motor vehicle. The present value of the minimum
    lease payments is $27,355 and the rate implicit in the lease is 10%.
    The terms of the lease require three annual rentals to be paid of
    $10,000 each at the start of each year.
    what amount will go to Current liability and non- current liability at the end of 1st year?
    Plz explain me the reason too ?

    November 17, 2022 at 8:51 pm #671759
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7172
    • ☆☆☆☆☆

    Hi,

    I can’t explain it fully without seeing you having made an attempt at the question first. I’d recommend that you set up a lease payable table for payments made in advance. Use the class notes/videos to help.

    If you then show me what you’ve done then I can help further.

    Thanks

    November 19, 2022 at 10:10 am #671845
    anshika1415
    Participant
    • Topics: 4
    • Replies: 5
    • ☆

    i got it thanks

    November 20, 2022 at 3:19 pm #671937
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7172
    • ☆☆☆☆☆

    Good to hear.

  • Author
    Posts
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