Question
Question 36 Commander Ltd leased a ship to Shepard Ltd. The ship was leased for a term of 5 years. On the day before the
Question 36
Commander Ltd leased a ship to Shepard Ltd. The ship was leased for a term of 5 years. On the day before the lease commencing, Commander Ltd had bought the ship for $15 000 000. The legal fees incurred by Commander Ltd to draw up the lease agreement amounted to $1 000 000. Assuming that the lease is a finance lease, what is the amount of the lease receivable that Commander Ltd should recognise at the start of the lease? $16 000 000 $15 100 000 $14 000 000 $15 000 000
Question 37
Commander Ltd leased a ship to Shepard Ltd. The ship was leased for a term of 5 years. On the day before the lease commencing, Commander Ltd had bought the ship for $15 000 000. The legal fees incurred by Commander Ltd to draw up the lease agreement amounted to $1 000 000. Assuming that the lease is a finance lease, what is the amount of the lease receivable that Commander Ltd should recognise at the start of the lease? $16 000 000 $15 100 000 $14 000 000 $15 000 000
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Government Contracts Audits And Compliance
Authors: Gregory A. Garrett
1st Edition
0808023926, 978-0808023920
