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[Music] as promised how does this classification impact the financials for an operating lease there is going to be a single lease cost on the income statement thats calculated taking the remaining cost employees divided by the lease term thats how you get that straight line rent expense when youre going to record your monthly journal entries you would debit that lease cost that you calculated you would credit your lease liability this would factor in the interest expense even though you are not charging interest expense to the income statement this is how its getting factored in then your plug here would be a credit to the right of use asset when youre recording your monthly cash payment youll debit your lease liability credit cash now on the finance side theres going to be two items on the income statement theres going to be interest expense and a right of use asset amortization the reticles asset amortization is calculated to give the beginning right of these acid bonds div
