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The lease payments schedule for XYZ Ltd is shown below. Date Lease Interest expense Reduction in liability Balance of liability payments $ $ $ $
The lease payments schedule for XYZ Ltd is shown below. Date Lease Interest expense Reduction in liability Balance of liability payments $ $ $ $ $ 30 June 2022 41 651 30 June 2022 10 000 10 000 31 651 30 June 2023 10 000 ??? ??? ??? The implicit interest rate in the lease agreement is 8%. Which of the following show the correct interest expense, lease liability reduction and lease liability for 30 June 2023? (Round your answers to the nearest dollar if necessary) Interest Expense Lease Liability Reduction Lease Liability 2,532 7,468 24,183 Interest Expense Lease Liability Reduction Lease Liability 800 9,200 22,451 Interest Expense Lease Liability Reduction Lease Liability 3,332 6,668 24,983 None of the above
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