Question 4 8 pts Adelaide Ltd is manufacturer of sporting goods based in South Australia. Smith Jones is a director of Adelaide Ltd. Smith owns a building that is leased to Adelaide Ltd for $50 000 per month. The going rate for such properties is $45 000 per month. (a) Briefly explain whether or not the above transaction is a related party transaction in accordance with the requirements of AASB 124 Related Party Disclosures. Justify your answer with reference to the relevant paragraphs of the standard. (3 marks) (b) Briefly explain why related party transactions are considered to be of interest to users of financial statements. Use the facts of the above case to illustrate your answer. (5 marks) HTML Editora B 1 U A A TE MU EX ili vx TT 12pt Paragraph O words Question 4 8 pts Adelaide Ltd is manufacturer of sporting goods based in South Australia. Smith Jones is a director of Adelaide Ltd. Smith owns a building that is leased to Adelaide Ltd for $50 000 per month. The going rate for such properties is $45 000 per month. (a) Briefly explain whether or not the above transaction is a related party transaction in accordance with the requirements of AASB 124 Related Party Disclosures. Justify your answer with reference to the relevant paragraphs of the standard. (3 marks) (b) Briefly explain why related party transactions are considered to be of interest to users of financial statements. Use the facts of the above case to illustrate your answer. (5 marks) HTML Editora B 1 U A A TE MU EX ili vx TT 12pt Paragraph O words