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Discuss the accounting treatment of the assets for the year

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Grease Bhd leased out tangible non- current assets as operating leases. At 1 January x5, the carrying maount of such assets was RM 20 million. These assets were recently leased out on operating leases and have now expired. The company is undecided as to whether to sell or lease it to customers under finance leases. The fair value less selling costs of the assets is RM18 million and the value in used is estimated at RM24 million.

Required:

Problem 1: Discuss the accounting treatment of these assets for the year ended 31 December x5.

Reference no: EM132712166

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