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How do you adjust straight line amortization of deferred rent when lease is extended?
I am not entirely positive. But I believe you would take the balance of the deferred rent liability at relating to the lease prior to expansion and amortize it over the remaining life of the new lease. If deferred rent liability was 10k as of 10/31/2011 and you extended the lease term for two years ending 12/31/2013 you would calculate the new straightline expense of the lease at time of the extension through the end of the lease term and determine the deffered rent liability as of 12/31/2011. Then add 10K/24 = 417X 2 = 834 to the 12/31/2011 deferred rent balance of the new lease You are debiting the deferred rent liability and crediting expense to decrease the deferred rent liability associated with the old lease.
Are lease provisions a current liability or non current liability?
Non-current liability, all provisions are non current.
How do you book a fixed asset that is a lease?
[Debit] Asset Under finance lease xxxx [Credit] Liability Under finance lease xxxx
how to record capital lease entry?
Journal entry to record capital lease in books of accounts: [Debit] Asset under finance lease xxxx [Credit] Liability under finance lease xxxx And after that asset will be adjusted against depreciation while liability will be adjusted against lease payment till the end of term.
Does the lease holder on a car lease have any liability if the car is in an accident?
Certainly. The lessee has the same liabilities as a registered owner.
How to calculate vat liability on works contract?
How to calculate vat on works contract
What is general liability and lessor's risk?
Lessor's Risk Only (LRO) provides liability and property coverage for building owners who lease out their entire building or occupy less than 75% of the building and lease out the remainder. Also called landlord's insurance.
How do you calculate vat liability under works contract under delhi vat?
how to calculate vat liability under works contract under delhi vat
Do land owners need liability insurance on Nebraska cropland that is rented to a farmer?
In most cases I would say no. Presumably, Liability would already have been addressed and covered in your lease agreement. Most commercial lease contracts would specify that the renter will provide their own liability and injury coverage. If yours does not. I would suggest you modify it to do so.
How do you calculate Non Current Liability?
fair market value
Buy or Lease?
Buy or Lease? Should you lease or buy your car? Use this calculator to find out! We calculate your monthly payments and your total net cost. By comparing these amounts, you can determine which is the better value for you.
what is the legal liability to remaining tenant when the other tenant defaults on the lease?
Well depends on the shoes you are wearing. If trainers, then goodbye
