Please tell me the answer of Question1 part (b) of today's accounts paper.I was not able to solve it as lease payments was missing.
6 Replies
Syed Faraz
(Manager, Audit, KPMG)
(375 Points)
Replied 12 November 2011
You need to calculate the lease payments by applying the IRR rate to PV. PV= 600000 (-) 45078 = 554922. lease payments = 554922/2.4868= 223147. unearned finance inome to be computed likewise. And it constitutes a finance lease.
Vikram
(Student)
(45 Points)
Replied 13 November 2011
I am still not able to understand.Can someone please provide the complete solution ?
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