Gable Industries leased a building for their business for six years. Before moving in, they spent $24,000 to have renovations completed to the property. At the end of the six-year lease, Gable Industries moved to a new, larger location. Gable Industries has taken $3,308 of depreciation deductions for the leasehold improvements when they moved. What happens to the remaining $20,692 of leasehold improvements?

Answer rating: 100% (QA)

In this scenario Gable Industries will likely treat the remaining balance of the leasehold improveme... View the full answer