October 30, 2016 admin

Leaseholds & Leasehold Improvements—Accumulated Amortization

Assets

LEASEHOLDS & LEASEHOLD IMPROVEMENTS—ACCUMULATED AMORTIZATION ASSET ACCOUNT
1735

ACCOUNT EXPLANATION
Accumulated amortization of leaseholds and leasehold improvements.
TRANSACTIONS
  Jrnl. Dr. Cr.
  Monthly entry to record amortization expense SE
    Amortization of Leasehold Improvements 8360
      Leaseholds & Leasehold Improvements—Accumulated Amortization 1735
             
  Write-off of leasehold improvements and accumulated amortization at end of lease period G
    Leaseholds & Leasehold Improvements—Accumulated Amortization 1735
      Leaseholds & Leasehold Improvements 1730
COMMENTS
  • The cost of leaseholds should be amortized monthly over the term of the lease. Leasehold improvements should be amortized over the estimated life of the improvements or the term of the lease, whichever is shorter.