Good Morning
We have signed a new 5 year lease and i have to prepare a new lease smoothing working paper .
There is still a balance on the lease smoothing liability account . What do i do with this balance
Good Morning
We have signed a new 5 year lease and i have to prepare a new lease smoothing working paper .
There is still a balance on the lease smoothing liability account . What do i do with this balance
Hi raats. If this balance is there at the end of term, then it means the smoothing was probably not done correctly in the past. In any event, the balance must be charged to the income statement.
Good morning Clive
Thanks for your reply . Can i E mail you my working paper and what the balance is on the Lease smoothing Liabilty
and hear what you have to say
Regards
Barry
Sure, I pm'd my email address
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