Homework Answers
Answer:
|
Type of expenditure |
Transaction |
Explanation |
|
(C) Capital Expenditure |
Constructed new parking lot on leased property $300,000 |
This expanses will give benefit for long time so this will consider as capital expenditure |
|
(E) Immediate Expenditure |
paid property taxes of $75,000 for the first year the new building is occupied |
This is routine expenditure |
|
(N) Neither |
paid dividends of $40,000 |
this is not a capital expenditure and also not a immediate expanses |
|
(C) Capital Expenditure |
Paid interest on six month note payable that financed the construction of new plant building $555,000 |
This is capital expenditure because here interest amount is capitalised the value of new plant building |
|
(C) Capital Expenditure |
Purchased equipment for new manufacturing plant $6,000,000 |
This expanses will give benefit for long time so this will consider as capital expenditure |
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land improvements (limited life), building, or other accounts.
Choose the correct account from the drop down list for each letter
and enter the appropriate amount. Enter receipts as negative
amounts using the minus sign.
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the following payments and receipts are related to land, land
improvement ls, and buildings acquired for use in a wholesale
ceramic business. the receipts are identified by an asterisk.
1.) Assign each payment and receipt to land (unlimited life),
land improvements (limited life), building, or other accounts.
Choose the correct account from the drop down list for each letter
and enter the appropriate amount. Enter receipts as negative
amounts using the minus sign.
2.) determine the amount debited to land,...
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