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Title: How should a fixed asset acquired through a capital lease agreement be recorded Post by: goji.go on Oct 20, 2014 How should a fixed asset acquired through a capital lease agreement be recorded in a General Fund?
a. at the present value of the future lease payments, by debiting expenditures and crediting other financing sources - capital leases b. at the total amount of the future lease payments, by debiting expenditures and crediting other financing sources - capital leases c. at the present value of the future lease payments, by debiting expenditures and crediting capital leases payable. d. no entry is needed until payments are actually made on the capital lease agreement. Title: Re: How should a fixed asset acquired through a capital lease agreement be recorded Post by: f_zah1 on Oct 23, 2014 Content hidden
Title: Re: How should a fixed asset acquired through a capital lease agreement be recorded Post by: goji.go on Oct 23, 2014 Thanks so much f_zah1.
You were correct :D Title: Re: How should a fixed asset acquired through a capital lease agreement be recorded Post by: f_zah1 on Oct 23, 2014 You're very welcome!
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