A business purchases a new building for $250,000, and also spends $20,000 on renovations. What is the total capital expenditure?
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- Some of the following items should be treated as capital and some as revenue. Carriage paid to bring the purchased machinery to the works. Complete redecoration of the premises at a cost of Kshs.150,000. A quarterly account for heating. The purchase of a soft drinks vending machine for the canteen with a stock of soft drinks. Wages paid by a building contractor to his own workmen for the erection of an office in the builder's stockyard. Required: For each item, give an appropriate classification. Give justification for each classification.A property is purchased for $600,000 and sold for $900,000. Which of the following statements is most accurate? A.If the property is owned by an individual for 10 months the assessable capital gain is $150,000 B.If the property is owned by a superannuation fund for 15 months the assessable capital gain is $200,000 C.If the property is owned by a company for 10 months the assessable capital gain is $300,000 D.If the property is owned by an individual for 10 months the assessable capital gain is $300,000All of the following are capital investment decisions except: A. paying $600,000 to renovate a restaurant.B. acquiring $100,000 of common stock.C. purchasing equipment for $80,000. D. buying a $5,000,000 manufacturing plant.
- A company spends $20 million dollar for an office building. Over what period should the cost be written off? Choose the answer: A) When the $20 million ia expended in cash B) All in the first year C) Over the useful life of the building D) After $20 million in revenue is recognized1. Classify the following as either a revenue expenditure (RE) or a capital expenditure (CE). a. Paid $40,000 cash to replace a motor on equipment that extends its useful life by four years. b. Paid $200 cash per truck for the cost of their annual tune-ups. c. Paid $175 for the monthly cost of replacement filters on an air-conditioning system. d. Completed an addition to a building for $225,000 cash. 2. Prepare the journal entries to record the four transactions from part 1.What is the total after tax cash flow that will result from selling this asset on these financial accounting question?
- A project has annual depreciation of $25,900, costs of $102,500, and sales of $151,500. The applicable tax rate is 35 percent. What is the operating cash flow?10.Landscaping costs can be deducted in the determination of net business income, even if they involve items that would normally be considered capital assets True or False? 11. For the hobby farmer, deductible farming losses for a year are restricted to $2,500, plus one-half of the next $30,000. True or False?Which of the following would be considered capital expenditures (debit to an asset)? Sales tax on the purchase of equipment Purchase of cleaning supplies to clean the company's microwave A special concrete foundation that was poured specifically for a new piece of equipment Installation costs for installing a new piece of equipment General maintenance costs for a piece of equipment that has been in service for ten years Routine oil change for a van Repair of damage incurred on a new piece of equipment while the new equipment was being brought into the company's office Attorney's fees incurred to review the purchase agreement for a new piece of equipment Installation of a parking lot around a retail buildling Freight costs for the delivery of a purchased used printing press
- The value of your investment is divided into $30,000 for the land and $120,000 for the office space. Assume the salvage value of your investment is $40,000 at the end of seventh year. Using CCA=1%, compute the undepreciated capital cost of the office space for year four. a) Between $114,000 and $117,000 b) Between $120,000 and $123,000 c) Between $95,000 and $98,000 O d) Between $110,000 and $113,000 e) None of the answers are correct f) Between $92,000 and $95,000Please show all equations and work as needed. Make the correct answer clear. If possible, please type work so it can be copied. Thank you.Classify the following items as either revenue or capital expenditure: An extension to an office building costing £24,000. The cost of replacement valves on all the labeling machines in a canning factory. Repairs to the warehouse roof. Annual service costs for a courier firm’s fleet of vans. Replacement of rubber tread on a printing press with a plastic one that has resulted in the useful economic life of the printing press being extended by three years. A new bicycle purchased by a newsagent for use by the newspaper delivery boy. (g) Repairs to a refrigeration system of a meat wholesaler. (h)Repainting of the interior of a bar/restaurant which has greatly improved the potential for finding a buyer for the bar/restaurant as a going concern. (i) Wages paid to employees who worked on the construction of their company’s new office building
