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Lease Accounting

This query is : Resolved 
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(Querist)
12 November 2008 Hi,

As per AS-19, in case of Finance Lease lease initially it has to be recorded in Assets side as well as Liability Side.

Can any one suggest me the actual entry??

Regards
Rupesh Nigam
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Deepak Agrawal

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Deepak Agrawal (Expert)
13 November 2008 Entry s to be passed in Lessee's book for incomming asset by Debiting Lease Assets account
There are various scheme of enteries which cannot be given now.
U can refer Rawat book for Accing Std

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