Question

Capitalizing versus expensing. For each of the following expenditures, indicate the type of account (asset or expense) in which the expenditure should be recorded. Explain your answers.
a. $800 for repairing damage that resulted from the careless unloading of a new machine.
b. $7,200 cost of designing and registering a trademark.
c. $3,700 in legal fees incurred to perform a title search for the acquisition of land.
d. $1,200 cost of patching a leak in the roof of a building.
e. $95,000 cost of salaries paid to the research and development staff.



$1.99
Sales1
Views172
Comments0
  • CreatedOctober 05, 2013
  • Files Included
Post your question
5000