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What the lease liability at September

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Reference no: EM133141633

Question - On 1 October 2019, a company which prepares financial statements to 30 September each year enters into a 5-year lease of equipment. The company is required to make five lease payments of £20,000 each. These payments fall due on 1 October 2019, 2020, 2021, 2022 and 2023. The rate of interest implicit in the lease is 8.5% per annum. What the lease liability at 30 September 2020?

Reference no: EM133141633

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