MGT401 Financial Accounting Assignments No:2 Solution Spring Semester 2014 DUE DATE: 25 july 2014View more random threads:
- ENG001 Elementary English Assignment No. 1 Solution Fall...
- MTH302 Bussiness Mathematics and Statistics Solution...
- MGMT627 PROJECT MANAGEMENT Assignment No. 1 Solution Fall...
- CS604 Operating Systems Assignment 01 Solution Ideas Fall...
- All Past Assignments with Solutions Of CS614 Data...
- MGT201 Financial Management Assignment No.1 Fall Semester...
- Discuss your problems with us at vuhelp discussion forum
- MCM401 Fundamentals of Public Relations Assignment No. 01...
- may 2015 vu semester first assignment of eng301 for 2015...
- CS101 Assignment No.1 Assignment and Solution Last Date 21...
Case
RS Company has entered into a contract to obtain the machinery on lease from Soneri
leasing Company on 1st July 2009.
Fair value of the asset is Rs. 950,000;
Lease rentals are 5 annual installments of Rs. 219,450 starting from 30th June 2010.
The implicit interest rate is approximately 5% per annum in this lease contract.
Depreciation is charged on written down method at 20%.
Required:
1) Show how this lease would be presented in the accounts of the lessee (lease
amortization schedule) for entire lease term.
2) Show journal entries that are to be recorded in the books of lessee for the financial
year 2009 to 2010.
3) Also mention the charges that have to be disclosed in income statement for the
year ended June 30th
2010 and for the year ended June 30
th 2011, in the books of lessee.
IMPORTANT:
24 hours extra / grace period after the due date are usually available to
overcome uploading difficulties. This extra time should only be used to meet
the emergencies and above mentioned due dates should always be treated as
final to avoid any inconvenience.
Sponsored Links
GUIDELINES:
Use the font style “Times New Roman” or “Arial” and font size “12”.
It is advised to compose your document in MS-Word format.
You may also compose your assignment in Open Office format.
Use black and blue font colors only
There are currently 1 users browsing this thread. (0 members and 1 guests)