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*The lease inception was determined as 1 August 2022 *A lease premium of R80 000 is payable monthly in arrears *The lease is 15 years
*The lease inception was determined as 1 August 2022
*A lease premium of R80 000 is payable monthly in arrears *The lease is 15 years with an option to extend for a further 5 years.Lebelok is till undecided whether tbe option to extend will be utilised or not.
Lebelok commenced with the improvements on 10 August 2022. A total amount of R280 000 was spent to effect the improvements and the completion date was marked as 31 August 2022 by a property inspector
Required
Calculate the leasehold expenditure
Financial year period 1April 2022- 31 March 2023
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