Question
On January 1, 2017, Haus Company signed a 12-year lease for office space with an option to renew the lease for an additional 8 years
On January 1, 2017, Haus Company signed a 12-year lease for office space with an option to renew the lease for an additional 8 years on or before January 1, 2021. During January 2019, the entity made a substantial improvement costing P450,000 with an estimated life of 15 years. On December 31, 2019, the entity intended to exercise the renewal option. What is the carrying amount of the leasehold improvement on this date?
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
