Identifying Capital and Revenue Expenditures
For each of the following items, enter the correct letter to the left to show the type of expenditure. Use the following:
Type of Expenditure | Transactions |
C Capital expenditure | ______ (1) Purchased a patent, $4,300 cash. |
R Revenue expenditure | ______ (2) Paid $10,000 for monthly salaries. |
N Neither | ______ (3) Paid cash dividends, $20,000. |
| ______ (4) Purchased a machine, $7,000; gave a long-term note. |
| ______ (5) Paid three-year insurance premium, $900. |
| ______ (6) Paid for routine maintenance, $200, on credit. |
| ______ (7) Paid $400 for ordinary repairs. |
| ______ (8) Paid $6,000 for extraordinary repairs. |
| ______ (9) Paid $20,000 cash for addition to old building. |
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