In respect of a lease arrangement, what are the accounting entries to be passed in the books of a leasor
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Shankar Banerjee
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accounting entries in the books of alessee
Replies (1)
Depends on the kind of lease finance or operating. In case of a finance lease the payments due on the lease will be treated as a receivable and the asset will be removed from the balance sheet.
In case of an operating lease the asset will be carried at cost on the balance sheet and the lease rentals are taken to revenue as they accrue.
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