FMGT 5110-Test 3 Fall 2018 3. Property, Plant & Equipment (17 marks) sume that Jones Company completed the following transactions in 2017: Jan 14 Paid $75,000 cash for a new delivery vehicle. Paid $1,200 in freight (shipping) on the new vehicle Repaired plumbing in the main plant, paying $350,000 cash Paid $100 for an oil change on the new vehicle Pur 31 May 10 June 27 Aug. 19 Oct. 20 chased equipment for the new plant, $5,000,000; financed with a long-term note Paid $90,000 to install the new equipment purchased in August Required Identify each transaction listed above as a capital expenditure (C) (meaning it can be capitalize to the cost of the asset) or a revenue expenditure (E) (meaning it goes to the income statement). (6 marks) Date January 14 January 31 May 10 June 27 August 19 October 20 Type (C) or (E)