955 Illustration 1. Good Pictures Ltd. construct a cinema house which became operational on 1st January, 2015, and incur the following expenditure during the first year ending 31st March, 2015: (1) Second-hand furniture worth 9,00,000 was purchased; repairing of the furniture cost 70,000. The furniture was installed by own workmen-wages for this being 10,000. (2) Expenses in connection with obtaining a licence for running the cinema were *60,000. During the course of the year, the cinema was fined 5,000 for contravening rules. Renewal fee, 7,500, for next year was also paid. (3) Fire insurance, 1,20,000 was paid on 1st October, 2014 for one year. (4) Temporary huts were constructed costing 60,000. These were necessary for the construction of the cinema house and were demolished when the cinema house was ready. (5) During the first week of the cinema's running, free tickets were distributed. These numbered 4,000, the average value being * 100 per ticket 6 A sum of 2,70,00,000 was spent on the hall in all; of this 1,00,00,000 was borrowed on Ist April, 2014 @ 16% p.a. Half the amount was repayable on 31st March, 2016 and the remaining amount on 31st March, 2017 Point out how you would classify the above items