Question

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) Paid $400 for ordinary repairs.
R Revenue expenditure _____ (2) Paid $6,000 for extraordinary repairs.
N Neither _____ (3) Paid cash $20,000, for addition to old building.
_____ (4) Paid for routine maintenance, $200, on credit.
_____ (5) Purchased a machine, $7,000; gave long-term note.
_____ (6) Paid three-year insurance premium, $900.
_____ (7) Purchased a patent, $4,300 cash.
_____ (8) Paid $10,000 for monthly salaries.
_____ (9) Paid cash dividends, $20,000.



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  • CreatedJuly 26, 2012
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