CERTYNEX IFRS ACADEMY

For Thalassa's lease of a warehouse, the inception date of the lease is 1 March 20X1, the commencement date is 1 June 20X1 and the first lease payment is made on 30 June 20X1. Thalassa's reporting date is 31 December 20X1. On which date does Thalassa recognise the right-of-use asset and the lease liability?

1 March 20X1, the inception date of the lease.

1 June 20X1.

30 June 20X1, when the first lease payment is made.

31 December 20X1, the reporting date.