9.2 year end payment On 1 July 2019 , Helvelyn Ltd enters into a lease to acquire use of a machine. The lease agreement specifies that the company will make four lease payments, each of 45,303, on 30 June 2020, 2021, 2022 and 2023. The interest rate implicit in the lease is 14% per annum. Helvelyn Ltd prepares accounts to 30 June each year. (a) Calculate the finance charge which should be shown as an expense in the company's financial statements for each of the years to 30 June 2020, 2021, 2022 and 2023. Also show how the liability to the lessor should be presented in the statement of financial position of Helvelyn Ltd on 30 June 2020. (b) Calculate the initial amount of the right-of-use asset and explain how this asset should be measured subsequently in the company's financial statements, assuming that legal ownership of the machine is not transferred to Helvelyn Ltd at the end of the lease term. 9.3 On 1 January 2019, Crimmock Ltd (which prepares accounts to 31 December) enters into a four-year lease of office machinery. The company is required to make four lease payments of 30,000 and these fall due on 1 January 2019,2020, 2021 and 2022. The rate of interest implicit in the lease is 9% per annum. advance payment Explain how this lease should be accounted for by Crimmock Ltd in accordance with the requirements of IFRS16 Leases. pay in advance the CL will same 9.5 On 1 January 2019, Glassmere Ltd (which prepares accounts to 31 December) enters into a lease for the use of an asset. Details of the lease agreement are as follows: 1 Glassmere Ltd will obtain legal ownership of the asset at the end of the lease term. The company calculates depreciation on the straight-line basis. Calculate the finance charge and the depreciation charge which should be shown in the company's financial statements for each of the years to 31 December 2019, 2020, 2021, 2022 and 2023. Also calculate the liability to the lessor at the end of each year and show how this should be split between current liabilities and non-current liabilities