62092 6 056447 7 051316 table present value of a 1

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Unformatted text preview: 01 5 0.62092 6 0.56447 7 0.51316 TABLE: Present Value of a $1 Annuity Due With n Payments n\i 1 2 3 4 5 6 10.0% 1.00000 1.90909 2.73554 3.48685 4.16987 4.79079 7 5.35526 8 0.46651 8 5.86842 6 ACCT201 REQUIRED: 1. Explain how should this lease be accounted for in the books of Integrity and indicate, if any, what other information you will require. (5 marks) 2. Prepare all the journal entries for this transaction in Integrity’s books on the following dates: 1 July 2001 31 December 2001 (a) if the lease was treated as an operating lease (4 marks) (b) if the lease was treated as a financial lease Round all amounts to the nearest dollar. (7 marks) 3. Present the disclosure of this lease in the notes to account of Integrity as required by SAS 15 if this was a financial lease. Ignore any requirements of SAS 32. (4 marks) (TOTAL FOR QUESTION 1 – 20 MARKS) 7 ACCT201 QUESTION 2 XYZ Singapore Ltd Consolidated Balance Sheets 2002 Non-current assets PPE Intangible assets Investments 2001 2000 S$'000 1999 30,911 602 14,090 45,603 31,064 1,056 12,667 44,787 10,379 37,048 47,427 9,421 36,156 45,577 541 19,999 28,025 3,581 52,146 318 23,374 28,688 1,709 54,089 10,581 15,715 2,320 28,616 13,484 17,034 764 31,282 97,749 98,876 76,043 76,859 29,609 1,435 3,585 34,629 33,547 1,540 4,766 39,853 17,120 1,859 18,979 22,367 2,475 24,842 Non-current liabilities Loans 15,924 Deferred tax liabilities 2,000 17,924 17,774 1,460 1...
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This document was uploaded on 04/07/2014.

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