Note 7- Lease rentals On 1 April 2023 Hugo began to lease a...
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Accounting
Note Lease rentals
On April Hugo began to lease a large group of machines that were used in the production process. The lease was for years and the annual rental payable in advance on April each year was $ million. The rate of interest implicit in the lease can be taken as per year. Please finish the adjustment by the Note There should be some effect in lease liability, right of use asset, interest expense and depreciation.
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