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  • Finance Lease

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    DEEPANSHU GUPTA
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    A company leased a machine from a leasing company on January 1st, 2020 for a 3-year term covering the machine's entire economic life. The fair value of the machine was Rs 2,35,500. Under the lease agreement, the company must pay Rs 100,000 annually on December 31st for 2020, 2021, and 2022. The estimated residual value to be paid to the lessor is Rs 17,000.

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    A company leased a machine from a leasing company on January 1st, 2020 for a 3-year term covering the machine's entire economic life. The fair value of the machine was Rs 2,35,500. Under the lease agreement, the company must pay Rs 100,000 annually on December 31st for 2020, 2021, and 2022. The estimated residual value to be paid to the lessor is Rs 17,000.

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    © All Rights Reserved
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    10 views8 pages

    Finance Lease

    Uploaded by

    DEEPANSHU GUPTA
    A company leased a machine from a leasing company on January 1st, 2020 for a 3-year term covering the machine's entire economic life. The fair value of the machine was Rs 2,35,500. Under the lease agreement, the company must pay Rs 100,000 annually on December 31st for 2020, 2021, and 2022. The estimated residual value to be paid to the lessor is Rs 17,000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 8

    26 December 2022 15:42

    A company acquires a machinery on lease from a


    leasing company on Jan 1, 2020.
    The lease term covers the entire economic life of
    the machine i.e. 3-years.
    The fair value of the machine on Jan 1, 2020 is Rs
    2,35,500.
    The lease agreement requires the lessess to pay an
    amount of Rs 100,000 per year beginning Dec 31,
    2020.
    The lessee has estimated a residual value of Rs
    17,000 to the lessor.

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