- Joined
- Dec 25, 2018
- Messages
- 1
- Reaction score
- 0
- Country
Hi
We use IAS17 for leases in our country. I have a problem that i don't know how to solve it. In the problem the lessee guarantees $200 residual value and the lessor estimates $100 as unguaranteed residual value.If at the end of the lease the fair value of the residual value is $350 how much gain and loss the lessee and lessor record in their journal entry when the asset returns to the lessor.
We use IAS17 for leases in our country. I have a problem that i don't know how to solve it. In the problem the lessee guarantees $200 residual value and the lessor estimates $100 as unguaranteed residual value.If at the end of the lease the fair value of the residual value is $350 how much gain and loss the lessee and lessor record in their journal entry when the asset returns to the lessor.