What amount of leasehold improvement and net of amortization, Financial Accounting

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What amount of leasehold improvement and net of amortization

Problem

Star Co. leases a building for its product showroom. The 10-year nonrenewable lease will expire on December 31, Year 10. In January Year 5, Star redecorated its showroom and made leasehold improvements of $48,000. The estimated useful life of the improvements is 8 years. Star uses the straight-line method of amortization. What amount of leasehold improvements, net of amortization, should Star report in its June 30, Year 5, balance sheet?

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Financial Accounting: What amount of leasehold improvement and net of amortization

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Financial Accounting: What amount of leasehold improvement and net of amortization

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