WORD OF THE WEEK-TENANT IMPROVEMENT

v Tenant improvements are capital expenditures made by the landlord to prepare the space for lease.

v Such improvements are capital assets of the landlord.

v These improvements are components of the property and therefore should be capitalized and depreciated over their useful life consistent with the accounting for property, plant, and equipment.

EXAMPLE

The journal entry to record expenditures for tenant improvements of $100,000 with a 10-year useful life would be:

PARTICULARS	DEBIT	CREDIT
Tenant improvement A/C Dr	$100,000
To Accounts Payable or Cash A/C (Being improvement recorded)		$100,000
Depreciation A/C Dr	$10,000
To Accumulated depreciation A/C (Being annual depreciation of the improvement recorded)		$10,000

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