Show whether the following items are an expenses or asset:
(i) Purchased furniture of ₹2,00,000 and issued cheque
(ii) Purchased machinery of ₹50,000 from DD Enterprises
(iii) Purchased goods of ₹1,30,000 from Dilip Enterprises
(iv) Paid wages for the month ₹10,000 in cash
(v) Paid research expenses ₹1,00,000 by cheque for the current year
(vi) Paid royalty ₹1,50,000 which will generate economic benefit over next 3 years.
(vii) Provided depreciation on machinery ₹40,000 during the year.
(viii) One-third of royalty written off