State with reasons whether following Expenses/ Receipts of a Foam manufacturing factory are of Capital or Revenue nature; 1) Royalty received from sale of copy rights. 2) Sold one of its non-profitable plant. 3) Interest received on saving account of mill 4) Rent Received from a building in a city 5) Sold old furniture at higher price
State with reasons whether following Expenses/ Receipts of a Foam manufacturing factory are of Capital or Revenue nature; 1) Royalty received from sale of copy rights. 2) Sold one of its non-profitable plant. 3) Interest received on saving account of mill 4) Rent Received from a building in a city 5) Sold old furniture at higher price
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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: State with reasons whether following Expenses/ Receipts of a Foam manufacturing factory are of Capital or Revenue nature;
1) Royalty received from sale of copy rights.
2) Sold one of its non-profitable plant.
3) Interest received on saving account of mill
4) Rent Received from a building in a city
5) Sold old furniture at higher price
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