During the current tax year, Paul came down with a serious illness. Paul's uncle paid many of Paul's expenses during the period
1 answer:
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Answer:
The correct answer is "2,40,000". The further explanation is given below.
Explanation:
The given fair value is:
= $240,000
The presentation in books of lessee will be:
⇒
⇒
On putting the values, we get
⇒
⇒
⇒ ($)
Presentation in books of Lessor , the fair value of assets will be
= ($)
Answer
The answer and procedures of the exercise are attached in a the following image.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
