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Accounting

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Fact pattern for the nine (9) independent scenarios below: On January 1, 20x1, Sunset Co. leased a machine from April, Inc. Information on the lease is as follows: annual rent- P200,000 Lease term 10 years Useful life of machine 12years Implicit interest 10% Lessee's incremental borrowing rate 11% 10. Scenario 6: Variable lease payment based on index The lease payments, which are due at the start of each year, are linked to the Consumer price index (CPI) and will be updated after every two years. The CPI's are 100 on Jan 1, 20x1; 105 on Dec 31, 20x1; and 108 on Dec 31, 20x2, How much are the (1) lease liability and (2) right-of-use asset on Dec 31, 20x3? a. 940,736; 1,028,420 b. 940,736; 1,229,420 c. 1,156,736; 1,229,420 Od 1,156, 736; 1,028,420

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