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For each of the following items, indicate the type of expenditure by using the following letters: C: Capital expenditure R: Revenue expenditure N: Neither (a)
For each of the following items, indicate the type of expenditure by using the following letters: C: Capital expenditure R: Revenue expenditure N: Neither (a) Paid $400 for ordinary repairs. (b) Paid $16,000 for extraordinary repairs. (c) Paid cash, $240,000, for addition to old building. (d) Paid for routine maintenance, $2,000, on credit. (e) Purchased a machine, $70,000; gave long-term note. (f) Paid three-year insurance premium, $9,000. (g) Purchase a five-year patent, $43,000 cash. (h) Paid $10,000 for monthly salaries.
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