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sale and lease back

This topic has 1 reply, 2 voices, and was last updated 8 years ago by P2-D2.

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May 26, 2016 at 9:35 pm #317350
adurich
Member
- Topics: 127
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..
hello,
could you please confirm about Question 2 a of june 2012 paper ..that the last double entry about sale and lease back …the finance lease creditor is $91m..is a balancing figure
am i right
please confirm
thank u
May 30, 2016 at 9:01 am #318080
P2-D2
Keymaster
- Topics: 4
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Hi,
Yes it is a balancing figure. Personally I’d account for the interest first DR Interest CR FL payable, using the 7% effective interest rate, and then I’d deal with the cash payment DR FL payable CR Bank.
Thanks
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