Problem

Identifying Capital and Revenue ExpendituresFor each of the following items, enter the cor...

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.

Step-by-Step Solution

Request Professional Solution

Request Solution!

We need at least 10 more requests to produce the solution.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)


All students who have requested the solution will be notified once they are available.
Add your Solution
Textbook Solutions and Answers Search