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Calculate the capital expenditure and revenue expenditure

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Question - Print Express Enterprise started a printing business in 2018. They recently bought two (2) digital printing machines from Taiwan. All payments are made via bank telegraphic transfer. The transactions related to the purchase of the machines are as follows:

Digital Machines

Purchase Price 50,000

Installation costs. 2,550

Maintenance costs per annum. 5,000

Petrol costs 2,700

Insurance costs. 5,400

Freight charges 2,800

Painting of business name 1,600

Advertisement banner 3,000

Legal costs and documentation 4,900

Inspections and testing charges. 3,000

Salary for staff 2,000

Required -

(a) Calculate the capital expenditure and revenue expenditure that the business has incurred.

(b) Show treatment in form of journal entries for the above capital expenditures and revenue expenditures.

Reference no: EM132762440

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