I run a small business which is not doing so good and my lease was expiring this summer. I moved out to a smaller rent on January 31st. As the landlord didn't wanted to provide me any option (buy the lease or pay a penalty) I found myself forced to move out. The landlord also had a security deposit which I was reporting in my assets.
As It is most likely I expect the landlord to pursue me for breaching the agreement, I was wondering how/what/when should I change the assets and liabilities. I run a business which is subject to minimum net capital requirements and requested to file monthly B/S and P&L reports, so in detail I am wondering when and if the rest of unpaid rent will becomes a liability, and when I should take out the deposit from my assets.
I appreciate any info or help you could provide.
Thank you
Yosemite
As It is most likely I expect the landlord to pursue me for breaching the agreement, I was wondering how/what/when should I change the assets and liabilities. I run a business which is subject to minimum net capital requirements and requested to file monthly B/S and P&L reports, so in detail I am wondering when and if the rest of unpaid rent will becomes a liability, and when I should take out the deposit from my assets.
I appreciate any info or help you could provide.
Thank you
Yosemite