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Editorial Board on Accounts and Audit
  • Leasing

    by Chirag on Sunday, September 01, 2019 at 03:49 PM

    Dear Sir, Also tell that whether 3 Crore received from Leasing to B Ltd should form Part of Other Income of P&L A/c ?? 2) Whether 1.20 crore paid to A lTd will form part of Expenses in P &L A/c ?? 3) We will prepare Separate Balance sheet of cinema hall. So, as it was closed by us on 30.9.18 so IF WE ASSETS OF CINEMA HALL IN BALANCE SHEET HOW TO CLOSE SUCH ASSETS A/c, Liabilities A/c etc in books ?? 4) Also clarify some important treatments as per your view ?? Thanks

    Replied byEditorial Board Tuesday, September 03, 2019 at 07:52 PM

    Dear Chirag,

    All these aspects are detailed in accounting treatment as per AS 19 Leases.

    You may also refer the following link for illustrations on lease accounting:


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