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Hi,
One little bit I’m confused about in the reconciliation of obligations in the course notes, which was not explained in the lecture.
How do we calculate the finance lease interest not yet accrued? in this example, using the gross method, we see finance lease interest not yet accrued of $4705. Kindly help me figure out how this was computed.
Thanks.
It’s the difference between the gross amounts still outstanding as at the year end compared with the present value of the minimum lease payments outstanding at that date.
Is that ok?
I actually figured that out just after I posted. Thank you for confirming, Sir, as well as for such a prompt response. I really appreciate it.
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