Solved: Owl co operating lease first months rent 50000 last months, Accounting Basics

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Owl co operating lease first months rent 50000 last months

Question - On December 1, 2019, Owl Co. entered into an operating lease for its executive offices for 5 years at a monthly rental of $50,000, paying the landlord the following amounts:

Owl Co. Operating Lease First month's rent $50,000 Last month's rent 50,000 Installation of new carpet 600,000

In regards to this operating lease, what amount should Owl charge to expense for 2019?

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Accounting Basics: Owl co operating lease first months rent 50000 last months

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Accounting Basics: Owl co operating lease first months rent 50000 last months

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