O amor 2018 Mon Company is a piece of land to lay Corporation for RM6.000.000 and The term of the lease that disallowancellations and the title transfer to Moto Mon Company pay all executory costs in relation to the lease which totals RM255.000 in 2019, Collectibility of the rentals is reasonably predictable and there are no important uncertainties Prepare the journal entries for the entire year 2019 in the books of Moro Company to reflect Prepare the journal entries for the entire year 2019 in the books of Lopez Corporation to reflect Assuming that the transfer satisfies the requirements of MFRS 15 to be accounted as a sale of the te) Pure of the Statement of Financial 2000 immediately leases the land back. The following information relates to this transaction Company at the end of the lease term The land has a cost basis of RMS.10.000 to More Company The lease agreement calls for equal rental payments of RM1.12 at the end of each year, The land has a fair market value of RM6.000.000 on January 2019 The implicit rate of the lease surrounding the costs yet to be incurred by the lessor Required: the above sale and lease transactions (include a partial amortization schedule). the above purchase and lease transactions as a finance lease. O amor 2018 Mon Company is a piece of land to lay Corporation for RM6.000.000 and The term of the lease that disallowancellations and the title transfer to Moto Mon Company pay all executory costs in relation to the lease which totals RM255.000 in 2019, Collectibility of the rentals is reasonably predictable and there are no important uncertainties Prepare the journal entries for the entire year 2019 in the books of Moro Company to reflect Prepare the journal entries for the entire year 2019 in the books of Lopez Corporation to reflect Assuming that the transfer satisfies the requirements of MFRS 15 to be accounted as a sale of the te) Pure of the Statement of Financial 2000 immediately leases the land back. The following information relates to this transaction Company at the end of the lease term The land has a cost basis of RMS.10.000 to More Company The lease agreement calls for equal rental payments of RM1.12 at the end of each year, The land has a fair market value of RM6.000.000 on January 2019 The implicit rate of the lease surrounding the costs yet to be incurred by the lessor Required: the above sale and lease transactions (include a partial amortization schedule). the above purchase and lease transactions as a finance lease
