Question: Rib Ltd signed a 4-year contract with Pillman Ltd for the use of a customised machinery on 1 July 2020. Rib Ltd intends to return

Rib Ltd signed a 4-year contract with Pillman Ltd for the

Rib Ltd signed a 4-year contract with Pillman Ltd for the use of a customised machinery on 1 July 2020. Rib Ltd intends to return the asset at the end of the lease term. The leased machinery meets the criteria of a leased asset in accordance with AASB16 Leases. The following information shows the lease terms: What is the amount to be recorded as a Non- Current Lease Liability in the books of Rib Ltd that is in accordance with AASB16 Leases on 30 June 2022? $136,364 $121,488 $190,909 $163,636

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