Building lease assets or liabilities and valuation

yogen (Accountant) (105 Points)

31 March 2013  

 please let me know the below confusion:

we have taken building in lease and we are paying montly rent 250000 per month. and the lease period is for 2 years and it can extend futher in second term.

please let me know whether i should add this in the assets side of the balance sheet or not . and please tell how should i do valuation of this assets.

i shall be very grateful to u.

thankyou in advance.