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ROU and Lease liab.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › ROU and Lease liab.

  • This topic has 1 reply, 2 voices, and was last updated 9 months ago by P2-D2.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • April 26, 2022 at 4:56 am #654426
    Sourav9271
    Participant
    • Topics: 166
    • Replies: 118
    • ☆☆☆

    Hello sir,
    Was lately watchin’ the lectures on Lease.Thereby you recognised ROU with P.V of lease Liab+Initial Direct costs and – incentive..
    However the lease liab consisted only of the P.V

    Why isn’t the double entry matching?

    Is it the case that initially DR ROU
    CR lease liab @P.V of payments

    And then
    Deal with ROU seperately by
    DR Initial direct costs (SOPL)
    CR Incentive (SOPL).

    April 30, 2022 at 10:42 am #654645
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6473
    • ☆☆☆☆☆

    Hi,

    The entries would balance and I think you are missing the entry to bank for the payment of the initial direct costs. It would be easier to answer if you used numbers in your example.

    Thanks

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