Anumpa Ltd leased an item of Machinery from Imlie Ltd for a period of five years. The Machinery has a useful life of 12 years. There is no purchase option available at the end of the
lease term.
The monthly rental lease payment is $90,000 over the next five years.
The following are additional details pertaining to the lease agreement:
Rent in advance $2,000
Term in years 5
Interest rate implicit 6%
Fair value of leased assets $5,500,000
PV of Lease Payments $4,500,000
Total lease payments ?
Required:
a) Calculate the total lease payments. (2 marks)
b) Classify the lease under IAS 17. Provide reasons (show calculations) to support your
answer. (5 marks)
c) How would the current lease be recognized under IFRS 16? (5 marks)
d) Prepare a lease schedule and provide journal entries in the books of Anumpa Ltd for the
first 3 years of lease agreement. (18 marks)
Assume interest expense for the five years are calculated as follows:
Year Interest Expense
1 $420,000
2 $212,000
3 $188,000
4 $48,000
5 $32,00

1. the healthy pantry bought new shelving and financed $7,300 with 36 monthly payments of $267.65 each. suppose the firm pays the loan off with 13 payments left. use the rule of 78 to find the amount of unearned interest. 2. the healthy pantry bought new shelving and financed $7,300 with 36 monthly payments of $267.65 each. suppose the firm pays the loan off with 13 payments left. use the rule of 78 to find the amount necessary to pay off the loan. ! i entered 967.82 for question 1 and 5,455.78 for question 2 and it said it was

An employer who is considering hiring eva has asked donna, eva’s former supervisor, for a report on eva. in truth, eva’s work for donna has been only average. however, eva is donna’s friend, and donna knows that eva probably will not get the job if she says anything negative about eva, and donna knows that eva desperately needs the job. further, donna knows that if the situation were reversed, she would not want eva to mention her deficiencies. nevertheless, it has been donna’s policy to reveal the deficiencies of employees when she has been asked for references by employers, and she knows that some of eva’s faults may be bothersome to this particular employer. finally, this employer has leveled with donna in the past when donna has asked for a report on people who have worked for him. should donna reveal deficiencies in eva’s past performance? (remember to use one of the three moral theories acceptable for this test to solve this dilemma. any discussion of any personal opinion, religious perspective, or theory other than the moral theories acceptable for this test will result in a score of "0" for this question.)

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