Solved: The entire amount of 765000 was charged to rent expense in, Accounting Basics

The entire amount of 765000 was charged to rent expense in

Question - On December 1, 2016, Goetz Corporation leased office space for 10 years at a monthly rental of $90,000. On that date Perez paid the landlord the following amounts:

Rent deposit $90,000

First month's rent 90,000

Last month's rent 90,000

Installation of new walls and offices 495,000

$765,000

The entire amount of $765,000 was charged to rent expense in 2016. What amount should Goetz have charged to expense for the year ended December 31, 2016?

A. $90,000

B. $94,125

C. $184,125

D. $495,000

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Accounting Basics: The entire amount of 765000 was charged to rent expense in

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Accounting Basics: The entire amount of 765000 was charged to rent expense in

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