A general store receives $200 from the sale of a display cabinet that is no longer used.

Question:

A general store receives $200 from the sale of a display cabinet that is no longer used. Is this an example of capital income or revenue income or capital expenditure or revenue expenditure?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge International AS And A Level Accounting

ISBN: 9781444181432

1st Edition

Authors: Ian Harrison

See More Books

Question Posted: Aug 23, 2023 01:10 PM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
(a) Why is the MD&A section of the annual report useful to the financial analyst? What types of information can be found in this section? (b) Using the excerpts from the MD&A of the Biolase,...
Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...
Why is ultraviolet light, but not infrared light, effective in making certain materials fluoresce?
During the month of June, Rowling Boutique had cash sales of $233,200 and credit sales of $153,700, both of which include the 6% sales tax that must be remitted to the state by July 15. Instructions...
Marisol is new to town and is in the market for cellular phone service. She has settled on Wildcat Cellular, which will give her a free phone if she signs a one-year contract. Wildcat offers several...
A proton moves in the positive $x$ direction at $4.00 \times 10^{4} \mathrm{~m} / \mathrm{s}$. Calculate the magnitude of the magnetic field at the point \((x, y)=(+2.00 \mathrm{~mm},+1.00...
Kegler Company has set the following standard costs per unit for the product it manufactures. Direct materials (15 Ibs. @ $ 4 per Ib.) . . . . . . . . . . . $ 60.00 Direct labor (3 hrs. @ $ 15 per...
Explain why clients may want to have a review, versus an audit. In detail, explain the differences between a certified audit and a review. In addition, what role does an internal auditor play in...
A food store purchases a cash register for use in the store. Is this an example of capital income or revenue income or capital expenditure or revenue expenditure?
In each pair of assets identify the most liquid: a. Premises or vehicles b. Inventory or plant and machinery c. Trade receivables or land and buildings.
a 2 + b 2 + 7 2 = 74 2ab, a + b = A. 7 B. 5 C. 3 D. 1 E. 0
Critically assess the effectiveness of the balanced scorecard as a strategic management tool for measuring and evaluating organizational performance. Discuss its strengths and weaknesses, considering...
calculate the AVERAGE monthly return and standard deviation of the following stock. Based on the results to forecast the expected future return at a 95% confidence interval for the estimate. Please...
Research the top management of the organization Maroc telecom and detail the strategies that they advocated to help grow the company. As many companies had problems starting around 2020 pandemic...
Leadership theories in healthcare organizations optimizes the effectiveness of leadership. Explain the statement.
Critically analyse the role of leadership in promoting effectiveness in education.
In his book Outliers, author Malcolm Gladwell argues that more baseball players have birthdates in the months immediately following July 31, because that was the cutoff date for nonschool baseball...
Listed below are several terms and phrases associated with basic assumptions, broad accounting principles, and constraints. Pair each item from List A (by letter) with the item from List B that is...
Identify three methods of depreciating non-current assets.
Identify a non-current asset that is not depreciated.
Which accounting concept is used when providing depreciation of a non-current asset?
Minnie's Soup plant is running at 52% of its monthly capacity. Minnie's Soup plant has just received a special order to produce 400 cases of creamy potato soup for a statewide supermarket. The...
Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for...
On Apr 5, 2021 Carter was in Omaha, Nebraska attending a seminar and was a guest at the Blue beiger Inn. At the end of the first day of the seminar, Carter took a swim in the motel's pool. Following...

A general store receives $200 from the sale of a display cabinet that is no longer used.

Question:

Step by Step Answer:

The 200 received from the sale of a display cabinet that is no longer used is an example of capital ...View the full answer

Cambridge International AS And A Level Accounting

Students also viewed these Business questions