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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

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

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting Principles
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education