Lease Modification: Remeasure at a Revised Rate
This lesson is part of the course
In this lesson
Two years into the store lease, Harbor & Pine Outfitters agrees with the landlord to extend it and lower the rent. You remeasure the liability and adjust the right-of-use asset.
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Lessons in this course
- Which Payments Go into the Lease Liability? Locked
- Lease Liability = Present Value of the Payments Locked
- The Right-of-Use Asset: What Goes In and What Stays Out Locked
- The Lease Liability Schedule & the Current Portion Locked
- P&L Pattern: IFRS 16 Front-Loading vs ASC 842 Straight-Line Locked
- Journal Entries at Commencement and at Year-End Locked
- Lease Modification: Remeasure at a Revised Rate Locked
- Short-Term & Low-Value Exemptions and the Maturity Analysis Locked