80 – Rent/Lease

Overhead Expenses

 

Synopsis

Account 80

Debits

Credits

  1. Expense of renting/leasing all facilities used in the regular retailer activities.

  1. Income received from subletting or renting a portion of the leased or rented facilities.

 

Remarks:

Where the terms of a lease require the lessee to pay any real estate taxes and/or insurance coverage, such amounts should be considered a part of the rental factor and charged to this account.

Charges to this account should include such expenditures as rental for buildings, rental for used vehicle lots, rental for new and used vehicle storage facilities, insurance (if specified in the terms of the lease), and real estate taxes (if specified in terms of the lease).

Note: