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Sale – leaseback

This topic has 3 replies, 2 voices, and was last updated 3 years ago by P2-D2.

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May 10, 2022 at 7:03 am #655293
Sourav9271
Participant
- Topics: 170
- Replies: 120
Hello sir,
Loved, lectures on sale and lease back.. However had one doubt.
Dr Proceeds (f.v asset)
Cr Asset (c.v)
Cr Lease Liab
Dr ROU(as a % of cv/fc ×Lease liab)
The last as you said was a
Cr gain/Dr exp ? figure.
How to find gain / exp..
Which two of the aforementioned balances must be subtracted?
May 16, 2022 at 8:24 pm #655847
P2-D2
Keymaster
- Topics: 4
- Replies: 7171
Hi,
The final entry is just a balancing figure overall after processing the other entries.
Thanks
May 17, 2022 at 6:34 am #655856
Sourav9271
Participant
- Topics: 170
- Replies: 120
Sorry sir but I couldn’t get grasp of the last Profit/loss entry…
https://photos.app.goo.gl/Rac4Vdd5K85ki9z69
By subtracting what will we get the gain or loss.?
May 20, 2022 at 11:27 am #656076
P2-D2
Keymaster
- Topics: 4
- Replies: 7171
Total up the debit entries and then total up the credit entries. The difference is the number and there is an excess of debits over credits, hence why the balancing figure is a credit and therefore a gain.
Thanks
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