Identify the expenditures as capital or revenue expenditures

Assignment Help Accounting Basics
Reference no: EM131826850

Question - 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 depreciation 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: EM131826850

Questions Cloud

What are the three rules specified by the blp model : What are the three rules specified by the BLP model? How is discretionary access control incorporated into the BLP models?
Prepare a complete depreciation table : Prepare a complete depreciation table under the three depreciation methods - Straight-line and 200 percent declining-balance
What are the three rules specified by the biba model : What are the three rules specified by the Biba model? Explain the difference between certification rules and enforcement rules in the Clark Wilson model.
What are the two rules that a reference monitor enforces : What are the two rules that a reference monitor enforces? What properties are required of a reference monitor?
Identify the expenditures as capital or revenue expenditures : Identify the following expenditures as capital expenditures or revenue expenditures: Painted delivery truck at a cost of $450 after two years of use
Which model is most similar to the conspiracy : Your professor probably grades on a curve, implicitly if not explicitly. This means that you and your classmates could each agree to study half as much.
How can mls be implemented in an rbac system : In general terms, how can MLS be implemented in an RBAC system? Describe each of the possible degrees of granularity possible with an MLS database system.
How do the two models compare : Using appropriate transformations fit two models: one that predicts mass from diameter and one that predicts diameter from mass. How do the two models compare?
Present an analysis of his data using a paired t-test : Present an analysis of his data using a paired t-test instead of a 2-sample comparison.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd