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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.
What else can I help you with?
Is a journal entry required when switching from straight line to sum-of-the-years'-digit?
Yes journal entry to adjust the depreciation charge is required while shifting from one method to another method.
All of the closing entries will adjust to update that account?
all of the closing entries will adjust to update the retained earnings account.
Closing entries are used to adjust the account at the end of a period for curls and expiration of prepaid true or false?
It is true that close entries are used to adjust accounts at the end of a period. This is common sense.
How do you do adjusting entries?
You adjust the entries by crediting the income and debiting the expenditures.
How to Adjust supplies on a trial balance?
Use a TARI system (www.improvebusinessprofit.com). It will allow you to input all relevant statistics and let your play with them to determine the best way to adjust your supplies in order to maximize profits and cash flow.
How do you adjust straight-line amortization of deferred rent when lease is extended?
When using straight-line rent expense and you amend the lease you take the deferred rent liability at the time of the amendment and amortize it over the life of the new amendment. If you are still required to account for future rent payments on a straight-line basis, you will need to take into account the new lease payments that will be made over the remaining lease term and adjust the future amortization. To do this, you must calculate the total rent expense that will be paid over the revised lease term (i.e. from the original commencement date through the extended termination date). Then, you will subtract the current balance of deferred rent, as this is the portion that has already been amortized. The remaining balance represents the rent expense that needs to be amortized over the remaining life of the lease. Therefore, you will divide this amount by the number of periods remaining in the lease to determine your monthly rent expense journal entry that will be made over the life of the extended lease.
Where can I find information about auto loan amortization?
To calculate your auto loan, you can use this handy calculator found at www.amortization-calc.com. You can adjust any of the information needed in order to determine what your payments would be.
What is the optimal height for your bicycle seat?
The optimal height for your bicycle seat is typically when your leg is almost fully extended at the bottom of the pedal stroke, with a slight bend in the knee. Adjust the seat height so that your leg is not fully straight when the pedal is at its lowest point.
How do you adjust your aim on burnin rubber 4?
Unfortunately, the cars always shoot straight. In order to adjust aim, turn left or right.
What is the optimal height for a bicycle seat and how can I adjust it to ensure proper comfort and efficiency while riding?
The optimal height for a bicycle seat is when your leg is almost fully extended at the bottom of the pedal stroke. To adjust it, sit on the bike and place your heel on the pedal at its lowest point. Your leg should be straight but not locked. If your leg is bent, raise the seat. If it's too high, lower the seat until your leg is almost fully extended at the bottom of the pedal stroke. This will help ensure proper comfort and efficiency while riding.
Can and or how can you adjust the struts to keep the wheel straight on a 1989 Ford Taurus?
Take it to an alignment shop
What effect does a decrease in unearned revenues have on cash flow statement?
Therefore, you record this deferred revenue as a cash inflow in the operating section. Specifically, you adjust cash generated from operating activities upward by the amount of the deferred revenue. ... Therefore, you must adjust the operating cash flow downward by the amount of this earned revenue.
How do you adjust the brakes on a 1968 volkswagen beetle?
Through the hole in the outer drum with a straight slot screwdriver.
How do you adjust the drivers window of a 98 Geo Metro that will not roll up straight?
replace window regulator
How do you adjust the lifters on a 4.9 liter ford?
The 4.9L ford straight six engine does not have adjustable lifters.
How do you adjust rear drum brakes on a 99 ranger?
Through the rubber plug on the back straight under the axle.
Can a green card holder sponsor a husband who extended his stay in the US illegaly?
If you mean can you adjust his status to become legal- NO. This is only if you are a U.S. citizen.
