SC Academy Ltd has a 31 December year end.

SC Academy acquired an equipment under a finance lease agreement on 1 January 2018. Lease payments are $10,000 annually for three years, payable in arrears, the first instalment being due on 31 December 2018.

The equipment would have cost $26,000 to buy outright and the estimated economic useful life of the asset is four years with zero residual value. The rate of interest implicit in the lease is 7%

Complete the following extracts of the related Disclosure Note relating to the lease contract for the accounting year 2018

I need ans A-F

Finance Lease Liabilities
	Minimum lease payments due
	- Not later than one year		(A)
- Between one and 5 years		(B)
	- Later than 5 years		(C)
			(D)
	Less: Future finance charges		(E)
	Present value of finance lease liabilities		(F)