Hi,
How a finance lease entry will be passed for a lease of 5 year , say rent has been received in advaced of rs 500000 p.a How the calculation of finance charges will be calculated?
2 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 01 August 2021
Finance charges should be calculated as per installment basis and should follow mercantile accounting.. Finance charges should be charged on principal value
unknown
(student)
(242 Points)
Replied 04 August 2021
But the amount will deducted in payment basis in year 0
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