Shed taken on lease
This query is : Resolved
13 May 2019
Our company has taken one shed on lease for 30 years and paid premium which is non refundable .Please clear do we capitalize the amount of premium paid or treat as an expense. In this agreement we had to pay monthly rent for the same.
Please guide.
Regards
Please guide.
Regards
13 May 2019
apportion lease premium over the lease period to Profit loss statement
14 May 2019
Capitalise and charge off over a period of 30 years.
14 May 2019
capitalise the non refundable deposit along with value arrived as per as 19 and charge depreciation on the total asset value
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