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b ) ( 4 Marks ) On 1 January 2 0 2 2 Hull Ltd entered into a 1 0 - month lease for a
b
Marks
On January Hull Ltd entered into a month lease for a retail unit.
Lease rent were per month payable in advance. As an incentive
however, Hull Ltd was given the first month as a rentfree period.
Required
Calculate the rent expense which should be recognised in Hull Ltd
statement of profit or loss for the year ended March Assume that
Hull Ltd elects to use the shortterm lease exemption under IFRS
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