FAC3703 ASSIGNMENT 2 - SEMESTER 1 OF 2018
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1. Profit before tax Profit before tax is shown after taking the following into account: 2017 R Income Finance Income (calculation 4) 79 966 Expenses Finance cost (300 000 ∗ 2 ∗ 9%) 54 000 ... 2. Net Investment in finance leases 2.1. Reconciliation of net investment in finance leases: 2017 R Opening balance New leases entered into Repayments of Capital (128 048 + 133 166) Effect of lease modification 1 129 727 - (261 214) - Closing Balance 868 513 2.2. Maturity analysis of future finance lease instalments receivable at reporting date 2018 2019 2020 R R R Undiscounted lease payments (173 200 ∗ 2) Unearned Finance Income 346 400a (58 244)c 346 400a (34 750)d 346 400b (10 340)e Net Investment in the lease 288 156 311 650 336 060 a. 173 200 ∗ 2 = 346 400 b. (173 200 ∗ 2) + 50 000 = c. 17 356 + 29 177 + 11 711 = 58 244 d. 11 711 + 17 434 + 5 605 = 34 750 [Show More]
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