Learning Accounting for Rental Property Business

[Kim Cooper]

Can someone give me examples of what would be included in an Inventory Account for a property rental business?  All I can think of would be furniture that I may or may not use to furnish an apartment for extra rent.  What other examples would there be?  Or am I thinking of it wrong?  Do I count each property as apart of inventory?

[Cathie Kovacs]

Inventory is sold to create revenue (think retail). Furniture in a furnished apartment is not inventory but an asset. Inventory is a special type of an asset and doesn’t apply to rental real estate.