1 Exterior paint averages $25-$40 a gallon, and a 3,000-square-foot home takes 15 or more gallons of paint, or $375-$600 just for the paint.
Construction-In-Process (CIP) Assets. A construction-in-process (CIP) asset is an asset you construct over a period of time. Create and maintain your CIP assets as you spend money for raw materials and labor to construct them. Since a CIP asset is not yet in use, it does not depreciate and is only in the corporate book.
Depreciation, on the other hand, refers to prorating a tangible asset's cost over that asset's life. For example, an office building can be used for many years before it becomes run down and is sold. The cost of the building is spread out over the predicted life of the building, with a portion of the cost being expensed each accounting year.