In the process of completing the month-end accounting process, you are reviewing the lease payments for the

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In the process of completing the month-end accounting process, you are reviewing the lease payments for the office building. It was detected that for this month, there was a substantial increase in lease payments and considerable office fit-out charges. You also find out that the Marketing department is moving from their current seating to a new additional floor in the building next month.

Unfortunately, you are unable to locate the new lease amendments / modified contract and unable to obtain more relevant info about this before month-end close.

What journal entries for lease accounting do you post for this month?

Please refer to accounting standards (eg IFRS, AASB, US GAAP, etc.).

Posted Date: Dec 01, 2021 08:00 AM

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In the process of completing the month-end accounting process, you are reviewing the lease payments for the

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if lease amount is increased by substantial amount th... View the full answer

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