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Required:
Show how the lease will be accounted for in the accounts
of the lessee.
RM900,000 x 3 years x 2 = RM5.4m
Required:
Prepare extracts of the statement of profit or loss of Basel for the years ended
31 December x2 and x3 and the statement of financial position as at 31
December x2 and x3.
Interest = (borrowing payment) x 10% x
Initial Direct Cost incurred by lessee = became part of the NCAs cost
810,000 + 10,000
200000 - 28889
200000 - 21600
1/1 1/7 31/12
i.
*lease expense
b.
i. Explain how they should treat the transaction between Goodest Bhd and
Printshop Bhd and why.
ii. Draft the journal entries to record the transactions in the books of Goodest Bhd
(lessee) for the year ended 31 December x6.