Accountancy treatment for leased property

Discussion in 'General Accountancy Discussion' started by Vibash Wijesinghe, Jun 15, 2017.

  1. Vibash Wijesinghe

    Vibash Wijesinghe

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    We are in a process of lease-out a property for a considerable amount. Just want to know how we should account following transactions;

    - We are going to spend on some modifications in the building – Should this cost be capitalized or expensed

    - Paid a Stamp Duty on Lease agreement, what is the treatment, should this be considered as a part of the rental or in a different expense as stamp duty

    Please advise
     
    Vibash Wijesinghe, Jun 15, 2017
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