On 1 January 2019, a company acquires a machine on a finance lease. The fair value of the machine on 1 January 2019 is OMR 100,000 and the present value of minimum lease payments is OMR 118,000. The annual lease payment is OMR 10,000 to be paid at the beginning of each year. How much will be the lease liability on 1 January 2019? HSBC purchases 30% of the outstanding voting shares of Citibank for $140 million cash. This investment gives HSBC significant influence over the operations of Citibank. On 31 December 2019 Citibank had Net Income of $10 million. How will HSBC record their share in net income of Citibank? The lessor and the lessee entered in a finance lease agreement. The annual lease payment is OMR 10,000 each year to be paid at the end of the year. The interest rate is 10%. Present value factor at 10% on Period 1 is 0.909. What is the present value of the lease payment at the end of the first year