You are working in the finance department of a school. The school is 15 years old. Identify
Question:
You are working in the finance department of a school. The school is 15 years old. Identify whether the following items are capital or revenue expenditure.
1. A desk
2. Payments to a handyman for painting the classrooms
3. Payments for the paint
4. Pens, paper and pencils
5. A laptop
6. A new whiteboard to replace the old one
7. A bookcase. The classroom did not have a bookcase before
8. Two replacement bookcases for the library
9. New lino for the floors in the toilets
10. A logo at the front of the school. This is the first time the school has been able to afford a logo.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
1 A desk is capital expenditure It is a fixed asset 2 Payments to a handyman for painting the classrooms are capital expenditure The payments go to th...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
Question Posted:
Students also viewed these Business questions
-
You are working in the finance department of a tech startup. Currently, their focus is broad and they have yet to truly define their business model. Although they have 2 lines of business, they are...
-
You are working in the Finance Department of Raceme Manufacturing and your supervisor has asked you to compute the appropriate discount rate to use when evaluating the purchase of new packaging...
-
You have just graduated from Ashesi University and currently working in the finance department of XY limited. XY limited, a private company limited by shares manufactures hand sanitizers and has been...
-
As mentioned in Section 5.6, Sainte-Venants principle will allow particular boundary conditions to be replaced by their statically equivalent resultant. For problems (b), (c), (d),and (f) in Exercise...
-
Consider the equity-linked CD example in Section 15.3. a. What happens to the value of the CD as the interest rate, volatility, and dividend yield change? In particular, consider alternative...
-
What does the auditor need to consider in determining the nature, timing and extent of tests of control?
-
Following are observed frequencies for five categories: a. Compute the expected frequencies for testing H0 : p1 = 0.3, p2 = 0.25, p3 = 0.2, p4 = 0.15, p5 = 0.1. b. One of the observed frequencies is...
-
How is the number of factors decided in most EFA programs?
-
No Thanks, I'm Driving The decision to not consume alcohol in social settings is one that many Canadians routinely make because of their desire to serve as designated drivers as well as the growing...
-
Donuts & Coffee opened its doors in 2018 on the corner of Geary and Masonic St. in San Francisco, CA. Originally, the owners Lindsey Kline and Carly Repko had planned on catering to the small...
-
List the four books of prime entry that are used to record inventory movements.
-
What do you have to do to a cheque to make it safe when sending it to a supplier using the postal system?
-
Why are the procedural protections of the law important? Do you think the goals of the law that were noted in this chapter could be met without these protections? Why or why not?
-
While the vast majority of Americans are generally law-abiding citizens, most of us will eventually run afoul of the law, perhaps for something as minor as a traffic infraction. Would treatment such...
-
Calculate the missing information for the purchase. Item Selling Price (in $) Sales Tax Rate Sales Tax (in $) Excise Tax Rate Excise Tax Total Purchase Price Book $ 8 $ 0 0 $12.96 Last month The...
-
An organization can attain great benefits through the implementation of Total Quality Management, yet there are still many companies that attempt a variety of quality improvement efforts and find...
-
Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil fields. The company uses a job-order costing system that applies...
-
The following question refers to the alexandrite laser (see Fig. Below). Suppose optical pumping promotes Q quanta of light per second to be absorbed by Cr ions. What amount of ions are in 2E and 4T2...
-
According to its annual report, "Procter & Gamble markets a broad range of laundry, cleaning, paper, beauty care, health care, food and beverage products in more than 140 countries around the world,...
-
Give the products of the following reaction, where T is tritium: dioldehydrase Ad- CH CH3C-COH CoIII) coenzyme B12
-
Examine the purpose and logic behind a provision for bad debts, with particular reference to the timing of profits and losses arising from credit sales.
-
a. Businesses often create a provision for bad debts i Of which concept is this an example? Explain. ii What is the purpose for creating a provision for bad debts? iii How might the amount of a...
-
1 The balance on trade receivables at the year end is 110,000. 2 Two of the balances in the sales ledger have to be written off. One is 4,500 the other is 5,500. 3 The company is to provide 5 per...
-
A scuba diver is exploring a shipwreck at a depth of 30 meters in the ocean. The diver's tank contains 5.0 moles of compressed air at a temperature of 25C. What is the pressure of the air in the tank...
-
1. Determine the atmospheric pressure at a location where the barometric reading is 720 mm Hg. 2. A pressure gauge connected to a tank reads 52 psi at a location where the barometric reading is 29.6...
-
Assume that a bond has an annual coupon rate of 6.80 percent, but makes coupon payments on a semi-annual basis, has a par value of $1,000, a yield to maturity of 7.20 percent, and a current price of...
Study smarter with the SolutionInn App