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Are lease provisions a current liability or non current liability?
Non-current liability, all provisions are non current.
Is the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
Is it true the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
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.
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.
Does a debit decrease liability?
Yes, a debit decrease liability and a credit increase liability. if a debtors/customer make the repayment obligation, it will decrease debtors, meaning decrease in liability.
What is lease obligation?
it is lease paid on capital invested
What is the difference between liability and obligation?
Liability - is something covered by law. Obligation - is something you're 'expected' to do.
What is Difference between liability and obligation?
Liability - is something covered by law. Obligation - is something you're 'expected' to do.
What is off-balance sheet financing?
The most common example would be a lease of equipment. Since the equipment is treated like a rental, the asset and the corresponding liability are not shown on the balance sheet. Lease payments are expensed as paid and the lease obligation would be disclosed in a note to the financial statement.
What kind of contract outlines the obligation of a landlord in his or her renters?
Is called a lease.
What is an obligation that starts with an l?
liability
What is the difference between liability and medical coverage under homeowners?
Liability = Legal Obligation to Pay. Medical Expenses = Moral Obligation to pay.
Are lease provisions a current liability or non current liability?
Non-current liability, all provisions are non current.
What is an obligation to transfer resources arising from a past transaction?
liability
Is the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
Is it true the fair value of an asset retirement obligation recorded as an increase to the related asset and as a liability?
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.
