1 ! 1 1 ! 1 1 Mission Y entered into a finance lease for some machinery on 1 January 20x2. The fair value of the leased

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1 1 1 1 1 Mission Y Entered Into A Finance Lease For Some Machinery On 1 January 20x2 The Fair Value Of The Leased 1 (26.66 KiB) Viewed 31 times

1 ! 1 1 ! 1 1 Mission Y entered into a finance lease for some machinery on 1 January 20x2. The fair value of the leased machinery is $100,000 and in return for 3 years use of the asset, the agency must pay the leasing company $40,210 per year on the last day of the year. The agency uses the actuarial method to allocate finance costs and the effective interest rate on the lease is 10%. The amount included in non-current liabilities in the agency's statement of financial position as of 31 December 20X2 will be: . ! 1 1 1 1 1 1