Question: Answer the following multiple - choice questions. Indicate your choice by selecting only one option from the four options given for each question answered. Round

Answer the following multiple-choice questions. Indicate your choice by selecting only one option from the four options given for each question answered. Round off all calculations to the nearest Rand or 2nd decimal %, where applicable.
QUESTION 7:
Lessee Ltd leases an office building from Lessor Ltd under a non-cancellable lease for a period of 5 years, starting on 1 January 2023.
The lease payments are R3,500 per month for the first three years and R2,500 per month for the final two years. Lessee Ltd has the option to extend the lease term for an additional two years at R2,000 per month. At the commencement of the lease, Lessee Ltd is reasonably certain that it will exercise the option to extend the lease for the further two years.
Additionally, 7% of each lease payment goes towards covering maintenance costs, which are to be paid by Lessee Ltd. These values are in line with the costs for similar maintenance services provided by third parties.
Lessee Ltd has elected to apply the recognition exemption for low-value assets in accordance with IFRS 16. Lessee Ltd also accounts for the lease and non-lease components separately, in accordance with IFRS 16.12.
REQUIRED:
Calculate the prepayment portion of the lease on 31 December 2024.
1.
R12933;
2.
R13020
3.
R7971;
4.
R8565;

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