Identify expenditures as capital expenditures

Assignment Help Financial Accounting

Reference no: EM13143288

Identify the following expenditures as capital expenditures or revenue expenditures:

a. Immediately after acquiring a new delivery truck, paid $ 195 to have the name of the store and other advertising material painted on the vehicle.

b. Painted delivery truck at a cost of $ 450 after two years of use.

c. Purchased new battery at a cost of $ 40 for two- year- old delivery truck.

d. Installed an escalator at a cost of $ 17,500 in a three- story building that had been used for some years without elevators or escalators.

e. Purchased a pencil sharpener at a cost of $ 15.00. f. Original life of the delivery truck had been estimated at four years, and straight- line deprecia-tion of 25 percent yearly had been recognized. After three years’ use, however, it was decided to recondition the truck thoroughly, including adding a new engine.

Reference no: EM13143288

Questions Cloud

Experiment that used probability : An example of an experiment that used Probability Sampling for selection assignment.

Prepare closing entries as appropriate : Prepare closing entries as appropriate. What would have been the difference in the year-end financial statements, if any, had the county not made the budgetary entries?

In what range below is the value of chi-squared : A set of Mendelian crosses involving two traits is performed. The first cross is between a plant with green and wrinkled seeds and a plant with yellow and smooth seeds. The F1 all have yellow and smooth seeds.

Prepare dna from each : A student attempts to transform a population of E. coli with a pBluescript plasmid. How do you advise him to identify cells that have the plasmid? Answer Plate the cells on a medium containing X-gal.

Identify expenditures as capital expenditures : Installed an escalator at a cost of $ 17,500 in a three- story building that had been used for some years without elevators or escalators.

The constitution did not define citizenship. why? : History-The constitution did not define citizenship. Why?

To be honest : To be honest I find this question difficult to answer because in psychology I find that they are both difficult, so I don't really see either one being harder than the other. My book provides poor information and I have been reading it over and over.

Define holographic mobile phones : A young engineer has invented holographic mobile phones and has approached a venture capital company to invest in it. The venture capital company considers the product to be an all or nothing product

Probability nine-inning game will last between given time : Baseball games are uniformly distributed between 160 minutes and 240 minutes. What is the probability that a 9-inning game will last between 180 and 220 minutes?

User Account

All Pages