Accounting for right of use -

leeGrant77 Registered Posts: 29 Regular contributor ⭐ 😼 ⭐
Has anyone dealt with this new kind of lease - my client took a 25k advance which was against a load of office equipment , ive only just had sight of the agreement (commenced June18) .
The amount to be paid back is around 37k so im looking for a bit off advice around the difference between the two figures.
The 12k isnt interest as would be the case in a loan , i believe a right of use asset account should be created and its dealt with in there and depreciated?
Has anyone dealt with these and can advise? The year end is November so year i will need to make adjustments from Dec 1st 18 in this years accounts.

Any advice welcome
excuse me if this comes over a bit tardy!
Privacy Policy