Painting can be considered as repairs and maintenance as it is part of maintaining the property.
it is considered a leasehold improvement.
Debit depreciation expensesCredit leasehold improvement
no
Yes, it can be classified as a leasehold improvement as long as it was indeed done on rented premises, etc.
Painting can be considered as repairs and maintenance as it is part of maintaining the property.
it is considered a leasehold improvement.
Debit depreciation expensesCredit leasehold improvement
Generally speaking, no. Usual maintenance and repairs to leased property like painting? Plumbing repair, lock changing, etc. would not be considered leasehold improvements.
NO !
no
Yes, it can be classified as a leasehold improvement as long as it was indeed done on rented premises, etc.
Yes
There are many websites in which one could find information about a leasehold improvement. Some of these websites include investopedia and businessdictionary.
They can be, yes.
It is considered a leasehold improvement if it is affixed to the property and when you're installing a new unit.
Could be, but without knowing what the improvement was we have no way of knowing.