Sherry Miller, ARNP is a medicare enrolled Nurse Practitioner - Family in Mason City, Iowa. She graduated from nursing school in 2015 and has 3 years of diverse experience with area of expertise as Nurse Practitioner.
Major repairs to production equipment should be capitalized. The repair to the asset will extend the useful life of the piece of equipment, which is an allowable reason to capitalize an expense. Companies should be careful, however, to not capitalize the maintenance cost of a piece of equipment.
Equipment or furniture purchased in conjunction with a building renovation, a new program or clinic, but not having a unit cost of $5,000 or more will be capitalized as a group purchase and depreciated over the relevant asset class life, such as furniture and equipment over 5 years.