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What is the carrying value of the right of use asset on December 31, 2021? 1,135,833 1,125,000 1,175,000 1,087,500 On January 1, 2021, REINDEER signed
What is the carrying value of the right of use asset on December 31, 2021?
1,135,833
1,125,000
1,175,000
1,087,500
On January 1, 2021, REINDEER signed a long-term lease for an office building. The term of the lease required Gee to pay P100,000 annually, beginning December 31, 2021 and continuing for 30 years. On January 1, 2021, the present value of the lease payments is P1,125,000 at 8% interest rate implicit in the lease. Initial direct costs amount to P50,000
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Fundamental Accounting Principles Volume 2
Authors: Kermit Larson, Heidi Dieckmann
15th Canadian Edition
1259087360, 9781259087363
