Working on a large apartment complex that has capital expenditures throughout the year.
Client sent me Income Statement with various capital expenditures at different times during the year.
example: appliance replacements for different units, a/c replacement for different units, parking lot repairs on different dates.
These were done at different times during the year.
Question: Is it ok to lump as one for appliances, one for a/c, one for parking lot, etc... I guess the question one would have is what date do you use as date placed in service since it's various.
Other option is to list every single item.
How do you handle these. Track every single thing or consolidate?