The renovations cost 50000 and have a useful life of 8, Ask an Expert

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Lisa's Boutique is renting prime store space at the Regional mall and just signed a five-year lease effective January 1, with the following terms: ??Refundable security deposit $1,500 ?Monthly lease payments $3,000 ?Lease bonus due at signing $18,000 ??Lisa has had to make significant renovations to the store prior to moving in. The renovations cost $50,000 and have a useful life of 8 years. Lisa's Boutique will record occupancy expense for the year ended December 31, of :

a) $51,100

b) $49,600

c) $49,900

d) $45,850

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9444551

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