Actsafe Safety Association
Notes to the Financial Statements
December 31, 2018
5.
Rental equipment
Rental equipment
2018
$
Cost Accumulated
amortization Net
73,597 45,748 27,849
2017
$
Rental equipment
6.
Cost Accumulated
amortization Net
57,004 31,670 25,334
Deferred revenue
Deferred revenue consists of prepaid course fees of $ 4,300 (2017 - $ 1,900), deferred revenue for the 2019
Actsafe Event Safety Conference of $ 17,625 (2017 - $ 8,556) and prepaid AED rentals of $ 7,094 (2017 -
$ Nil).
7.
Deferred lease inducements 2018
$ 2017
$
Lease inducements received
Accumulated amortization 145,035
74,935 145,035
45,928
70,100
29,007 99,107
29,007
41,093 70,100
Balance of deferred lease inducements
Less: Current portion
8.
Obligation under capital lease
The Company leases office equipment under a capital lease that expires during the fiscal year ending
December 31, 2021. The following is a schedule of the future minimum lease payments required under the
capital lease:
$
2019
2020
2021
Total minimum lease payments 9,988
9,988
9,155
29,131
Less: GST input tax credits
Less: Imputed interest at 9.51% 557
3,322
25,252
7,902
Less: Current portion
17,350