if a firm take the machinery on rent so how the repairing expense is recorded ?
2 Replies
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 22 September 2022
Operating leases or hire purchase methods. If it's more than a year, it's a finance lease
sabyasachi mukherjee
(27723 Points)
Replied 22 September 2022
Any repairing expenses if huge can be amortized , but what is the contract in the hire purchase agreement.
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