User Account

All Pages

What is the total charge profit or loss in respect of lease

Assignment Help Financial Accounting
Reference no: EM132531715

Pennyworth Ltd acquired an item of plant under a lease on 1 April 2019. the present value of the future lease payments and the carrying amount of the right of use asset was $ 15 462 000 and 3 rental payments of % 6 000 000 per annum are due to be paid in arrears on 31 March each year. The useful life of the plant is deemed to be 5 years. There is no option to buy the asset at the end of the lease term. The interest rate implicit in the lease is 8% per annum.

Question 1: What is the total charge profit or loss in respect of this lease on 31 March 2020?

Reference no: EM132531715

Questions Cloud

Concepts and theories in the accounting discipline : Data analysed to answer the research questions - drawn from your data/information analysed noting any limitations of your data/analysis
Evaluate various forms of health care fraud : Evaluate various forms of health care fraud. Consider civil and criminal penalties associated with fraudulent activities. The response must be typed.
What is the optimal capital structure : What is the relationship between the value of an unlevered firm and the value of a levered firm once we consider the effect of corporate taxes?
What would have a significant amount of inventory : Briefly explain whether you expect the business uses a periodic or perpetual inventory system, and why. If the image is not your own
What is the total charge profit or loss in respect of lease : The interest rate implicit in the lease is 8% per annum. What is the total charge profit or loss in respect of this lease on 31 March 2020?
What are the weaknesses of the compensation method : Write a 2-page report of your findings. Specifically, address strengths and weaknesses of this compensation method, both from the point of view of the health.
Define the overall quality goals for the project : Define the overall quality goals for the project. Identify the metrics to be used to measure achievement of the goals.
Calculate the liquidity-acid test and debt ratios : Calculate the liquidity, acid test and debt ratios, and compare them with the sector data. It also calculates the economic and financial returns, and the margin
Explain to what degree the myth is based on facts : Summarize the evidence from research that counters or supports the premise of your myth. Conduct research in at least two sources, not including your textbook.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd