financial position as of Decembér 31, reporte a liability of P1,066,986, net of current portion. Lease payments of P200,000 are due every January 1st of the year. Calm Co.s incremental borrowing rate is 11% and the lessor's implicit of rate, which is known to Calm Co., is 10%. What amount lease liability, net of current portion, should Calm Co. report on December 31, 20x2?

financial position as of Decembér 31, reporte a liability of P1,066,986, net of current portion. Lease payments of P200,000 are due every January 1st of the year. Calm Co.s incremental borrowing rate is 11% and the lessor's implicit of rate, which is known to Calm Co., is 10%. What amount lease liability, net of current portion, should Calm Co. report on December 31, 20x2?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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