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Classify the items listed below either as capital or revenue expenditure.             Fittings partition in a new shop; Carriage on returns outwards; Cost of weighing machine in a retail shop; Repairs to office safe; Legal costs of collecting debts; Legal costs of building materials for a new office building; Carriage costs of building materials for a new office building;

Classify the items listed below either as capital or revenue expenditure.             Fittings partition in a new shop; Carriage on returns outwards; Cost of weighing machine in a retail shop; Repairs to office safe; Legal costs of collecting debts; Legal costs of building materials for a new office building; Carriage costs of building materials for a new office building;

CONCEPTS IN FED.TAX.,2020-W/ACCESS
CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 22P
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Classify the items listed below either as capital or revenue expenditure.          

 

  • Fittings partition in a new shop;
  • Carriage on returns outwards;
  • Cost of weighing machine in a retail shop;
  • Repairs to office safe;
  • Legal costs of collecting debts;
  • Legal costs of building materials for a new office building;
  • Carriage costs of building materials for a new office building;
  • Purchase of an extra motor vehicle for distributor of soda and beer;
  • Cost of paint for repainting the hospital wards from green to blue;
  • Cost of paying for registration number plates of a new motor vehicle;
  • Cost of replacing registration number plates of a motor vehicle;
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