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Leases Entries

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Leases Entries

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by Stephen Widberg.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 20, 2021 at 12:09 pm #641154
    aadil1234
    Member
    • Topics: 75
    • Replies: 104
    • ☆☆

    Sir In leases, the subsequent year entries will be

    Finance cost Dr.
    Lease liabilities Dr.
    Bank Cr.

    We show finance cost in P&L and decrease total lease liability. Is this treatment correct??

    &

    I wanna sak you that we don’t show the impact of Bank in balance sheet, which is credit in entry, can you tell me why??

    November 20, 2021 at 3:12 pm #641177
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    No need to show the bank as the bank will have a lot of other entries.

    No harm done if you do show it.

    November 27, 2021 at 8:00 am #641753
    aadil1234
    Member
    • Topics: 75
    • Replies: 104
    • ☆☆

    Thank you sir:)

    November 27, 2021 at 12:33 pm #641786
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Leases Entries’ is closed to new replies.

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