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Machine is purchased, payment is made in Jan of the first year of operation.
Machine is leased, annual rental is paid in Jan of each year of operation.
Accounting year ends on 31 December.
I dont understand how to record the investment when the timing is at year end and beginning of the year. Would greatly appreciate your help thank you.
If you want for me to answer then you must ask in the Ask the Tutor Forum – this forum is for students to help each other.
(The answer to your question is all explained in my free lectures on lease and buy. The lectures are a complete free course for Paper F9 and cover everything needed to be able to pass the exam well.)
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