What amount should goetz have charged to expense, Accounting Basics

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What amount should goetz have charged to expense

On December 1, 2011, 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 2011. What amount should Goetz have charged to expense for the year ended December 31, 2011?

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Accounting Basics: What amount should goetz have charged to expense

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Accounting Basics: What amount should goetz have charged to expense

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Recent Questions Asked Accounting Basics

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Accounting Basics: What amount should goetz have charged to expense

Reference No:- TGS062284

Recent Questions Asked Accounting Basics

Q : What will be the new equlibrium level of output or income

Q : Thomas paine

Q : What amount must graham include in his gross income

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Q : What amount of expenditures can holly deduct as expense

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