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Treatment of finance lease

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(Querist)
26 July 2013 Dear all,

What are the accounting entries in Finance lease, if my Present value of minimum lease payment is higher than Fair value of Asset.

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CA Vijeta Verma

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CA Vijeta Verma (Expert)
26 July 2013 We consider lower of the two for entry. i.e. Fair value of asset or preent value of minimum lease payments

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