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Business, 02.12.2019 17:41 lauren21bunch

On december 1, 2018, goetz corporation leased office space for 10 years at a monthly rental of $80,000. on that date goetz paid the landlord the following amounts:

rent deposit $ 80,000
first month's rent 80,000
last month's rent 80,000
installation of new walls and offices 640,000
tota: $880,000


the entire amount of $880,000 was charged to rent expense in 2018. what amount should goetz have charged to expense for the year ended december 31, 2018?

a. $80,000

b. $85,333

c. $165,333

d. $640,000

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