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    richccc's Avatar
    richccc Posts: 1, Reputation: 1
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    #1

    Jun 29, 2012, 09:41 AM
    What is the journal entry to record fixed assets that is subleased?
    We currently subleased our office with furnitures and equipments that will pass onto the sublessee at end of the lease for a dollars. On the book, those Furnitures and equipments still have NBV. I need to know the J/E to treat it according to GAAP. Please give me advice.

    Thanks,
    Richard
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Jul 1, 2012, 04:07 AM
    Quote Originally Posted by richccc View Post
    We currently subleased our office with furnitures and equipments that will pass onto the sublessee at end of the lease for a dollars. On the book, those Furnitures and equipments still have NBV. I need to know the J/E to treat it according to GAAP. Please give me advice.

    Thanks,
    Richard
    If the funishings are included in the lease then all you need to know is the lease you are paying
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