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BE1.9 (LO2) Indicate the accounting for each of the following expenditures as an asset or an expense. Justify your choices. Assume all items are material. a. Legal fees paid in connection with the purchase of land are $1.500. b. Eduardo, tne paves the driveway leading to the office building at a cost of $21,000. c. A meat marlat purchases a meat-grinding machine at a cost of $3,500. d. On lune 30, Monroe and Meno, medical doctors, pay 6 monthe' office rent to cover the month of July and the next 5 monthe. e.Smith's Hardware Company pays $9,000 in wages to laborers for construction on a building to be used in the business. f. Avarez's Florists pays wages of $2,100 for the month to an employee who serves as driver of their delivery truck. BE1.10 (LO 3) Identify which basic assumption of accounting is best described in each item below. a. The economic actwities of FedEx Corporation are divided into 12-month periods for the purpose of issuing annual reports. b. Solectron Corporation, Inc. does not adjust amounts in its financial statements for the effects of inflation. c. Walgreen C0, reports current and noncurrent classifications in its balance sheet. d. The economic acturities of General Electric and its subsidianes are merged for accounting and reporting purposes