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82251 is incorrect The following facts are for a non-cancellable lease agreement between Pharoah Corporation and Russell Corporation, a lessee: July 1, 2020 Inception date
82251 is incorrect The following facts are for a non-cancellable lease agreement between Pharoah Corporation and Russell Corporation, a lessee: July 1, 2020 Inception date Annual lease payment due at the beginning of each year, starting July 1, 2020 Bargain purchase option price at end of lease term reasonably certain to be exercised by Russell $ 20,44246 $ 4,200.00 Lease term 5 years Economic life of leased equipment 10 years Lessor's cost $ 47,400.00 Fair value of asset at July 1, 2020 $ 89,400.00 9% Lessor's implicit rate 9% Lessee's incremental borrowing rate The collectibility of the lease payments is reasonably predictable and there are no important uncertainties obout costs that have not yet been incurred by the lesson. The lesse assumes responsibility for all executorycost. Both Russell and Pharoah use IFRS 16. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE (a) X Your answer is incorrect. Calculate the amount of the right-of-use asset and lease liability. (Round factor values to 5 decimal places, eg. 1.25124 and final answers to 2 decimal places, es 52.75.) 82251 Amount
82251 is incorrect
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