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Question - On December 1, 2018, Carla Vista Corporation leased office space for 10 years at a monthly rental of $75000. On that date Carla Vista paid the landlord the following amounts:
Rent deposit $75000
First month's rent 75000
Last month's rent 75000
Installation of new walls and offices 601200
$826200
The entire amount of $826200 was charged to rent expense in 2018. What amount should Carla Vista have charged to expense for the year ended December 31, 2018?
$80010
$155010
$75000
$601200
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