S7-3. (Learning Objective 2 each of the following items as either a capital expe

Question

S7-3. (Learning Objective 2 each of the following items as either a capital expenditure (C), expense o statement (E), or neither (N): Type of Expenditure C Capital expenditure E Expensed on income statement N Neither capital expenditure or expensed Transaction 1. Purchased a computer and peripheral 2. Paved a parking lot on leased property for 3. Repaired plumbing in main plant, paying 4. Purchased equipment for new equipment for $25,600 cash $100,000. $150,000 cash. manufacturing plant, $5,000,000; financed S. Paid $50,000 in cash for installation of 6. Paid $15,000 maintenance on equipment 7. Paid $150,000 to tear down old building 8. Paid dividends of $50,000. with long-term note equipment in (4). in (4) during its first year of use on new plant site. 9. Paid interest on construction note for new plant building, $550,000 10. Paid property taxes of $50,000 for the first year the new building is occupied

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Paticulars 1) Purchased a computer Capital Expenditure 2) Paved a parking lot Expensed on Income statement 3) Repaired plumbing Expensed on Income statement 4) Purchased equipment Capital Expenditure 5) Paid 50,000 In cash Neither capital expenditure nor expensed 6) Paid 15,000 Maintenance Expensed on Income statement 7) Paid 150,000 to tear down   Expensed on Income statement 8) Paid dividends Neither capital expenditure nor expensed 9) Paid interest   Expensed on Income statement 10) paid property tax Expensed on Income statement

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