On 1 July 2023, Station Ltd leased machinery to Depot Ltd. The machinery was pur for its fair value of $233,556. The lease agreement contained the following provisio Lease term Economic life of machinery 2016120341 3 yea 5 yea 675 C

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Leasing

Leasing is a contractual arrangement in which someone (a lessee) pays the owner (or lessor) of a building, land, vehicle, or other asset for the use of that asset. The lease is the agreement between lessee and lessor.