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I require a full solution which should be 100% correct. Thank you Question 1 On 1 November 20x7 Kinder plc acquired under a lease a
I require a full solution which should be 100% correct. Thank you
Question 1 On 1 November 20x7 Kinder plc acquired under a lease a right-of-use asset which was initially measured at 140,000 (which included initial direct costs to the lessee of 4,329). Under the terms of the lease, a payment in advance of 32,000 was made on commencement of the lease, being the first of five equal annual payments made in advance each year. The right-of-use asset has a five-year useful life. The business uses the straight line method of depreciation. The lease has an implicit interest rate of 9% What total amount will be charged to Kinder plc's Income Statement for the year ended 31 October 20x9 in respect of the above lease according to IFRS 16 Leases? A. 35,290 B. 32,151 C. 32,000 D. 60,000 E. 28,000 F. 4,151 G. 7,290 H. None of the aboveStep by Step Solution
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