Lease Liability Finance Costs

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December 4, 2019 at 9:46 am #554847
umasterath
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This could be a stupid question, but how does the T-Account for lease liability operate?
Should it not have an entry for the finance cost?

I’m doing the Kaplan exam kit and the T-Accounts are disregarding the Finance costs.

If someone has the kit, look at question 365 (Tabba) or 367 (Monty).

In both, the finance cost is not considered.
December 8, 2019 at 8:18 pm #555495
P2-D2
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Hi,

I’ve not got the Kaplan revision kit to hand but I would have thought that the finance cost would be included. I’ll have a look when I get my hands on the kit to see what they have done.

Thanks
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