Question: Please answer with good presentation, using commas and dollar sign in each figure Quunn 2. On Olfli. Alpha Ltd. leases a machine to Beta Fla.

Please answer with good presentation, using commas and dollar sign in each figure

Quunn 2. On Olfli. Alpha Ltd. leases a machine to Beta Fla. The lease is for 3 years and lease payments of 1,000 a month are required. The machine has a useful economic life of years and has a fair vaiue ofS0.000. Required: I] Explain whether this is an operating or nance lease. 2] Explain how the machine and the lease payments should be dealt with in the nancial statements of Alpha Ltd.. assuming a yearend on 30" June each yeah

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