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Accounting for leased equipment
Posted by pcorralejo on 07/09/2008 - 12:38
How is leased equipment accounted for? This is a long term lease with monthly installment payments. How is leased equipment depreciaited (over the life of the lease or the life of the asset)?
Pearl Corralejo
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Depends
Depends on whether it must be characterized as a capital or operating lease.
Jim Q., CA