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Mid-year entry into a lease

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Mid-year entry into a lease

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.
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    Posts
  • July 29, 2020 at 8:14 pm #578717
    ehte
    Participant
    • Topics: 6
    • Replies: 5
    • ☆

    Mid-year entry into a lease

    Shaeen Ltd entered into an agreement to lease an item of plant on 1 October 20X8. The lease required four annual payments of $200,000 each, commencing on 1 October 20X8. 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%.

    Can you please help me performing lease amortization schedule for this problem?

    Thanks.

    July 30, 2020 at 1:27 pm #578774
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3396
    • ☆☆☆☆☆

    Please can you indicate where this ACCA question is from and which part of the model answer you are unsure of. It feels a bit more like in a FR rather than SBR question. I am also unsure what you mean by lease amortisation schedule because this term is not used by the ACCA.

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