Lease cancellation & accumulated amortization
Summary:
When Option cancellation Accumulated Amortization also need to be reversed.
Content (please ensure you mask any confidential information):
When Option cancellation Accumulated Amortization also need to be reversed. The entries generated are as follows;
Event | ROU(Yes), Liability(Yes) | |
|---|---|---|
DR | CR | |
Option Cancellation | Lease Liability | ROU |
Loss (If Loss) | Gain (If Gain) | |
Is this intended functionality that the Accumulated Amortization is not reversed?
Version (include the version you are using, if applicable):
Code Snippet (add any code snippets that support your topic, if applicable):
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