CERTYNEX IFRS ACADEMY

Néphral transfers an automated warehouse (carrying amount 1,400,000) to Bailor for 2,000,000 and leases it back. The IFRS 15 analysis provided to both parties concludes that the transfer is not a sale. Immediately after the transaction, which presentation of the two statements of financial position is correct?

Néphral: right-of-use asset and lease liability, warehouse derecognised; Bailor: warehouse of 2,000,000 leased out.

Néphral: warehouse derecognised and financial liability of 2,000,000; Bailor: financial asset of 2,000,000.

Néphral: warehouse of 1,400,000 and financial liability of 2,000,000; Bailor: financial asset of 2,000,000, with no warehouse.

Néphral: warehouse of 1,400,000 and financial liability of 1,400,000; Bailor: warehouse of 2,000,000.