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Determine total lease-related expenses for the fiscal year

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Reference no: EM132739971

Barbie has leased an item of the plant under the following terms:

The commencement date of the lease - Jan.1,2019

Term of the lease - 5 yrs

Annual payments in advance - 12,000

Cash price and fair value - 52,000

Implicit rate of 8%

Depreciation policy - 20% per annum

Problem 1: The total lease-related expenses for the fiscal year Sept 30,2020 is

a. 13,072

b. 12,896

c. 10,200

d. 12,272

Reference no: EM132739971

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