An expenditure for which of the following items would be considered a revenue expenditure?
a. Plant assets
b. Ordinary repair
c. Addition
d. Betterment
B
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After closing the temporary owners' equity accounts into Income Summary, and after allocating the net income and closing the partners' drawing accounts, assume the partners' capital accounts had credit balances as follows: Boswell, $40,000; Aikido, $60,000; Cooke, $55,000 . Partners share profits and losses as follows: Boswell, 20%; Aikido, 30%; and Cooke, 50%. If Cooke retired and withdrew
$65,000 in settlement of his equity and settlements are allocated according to capital interests, the amount entered in Aikido's capital account would be a a. $4,000 debit. b. $4,000 credit. c. $6,000 debit. d. $6,000 credit.
Slaton Services' payroll register reported the following earnings and deductions: Current total earnings, $1,988.06 Federal income tax, $280.17 State income tax, $56.03 Social security tax, $123.26 Medicare tax, $28.83 The journal entry to record the payroll would include a
a. debit to Employees' Federal Income Tax Payable, $280.17. b. credit to Wages Expense, $1,499.77. c. debit to Wages Expense, $1,499.77. d. credit to Wages Payable, $1,499.77.
Analysis of blogs and Facebook postings revealed to Hewlett-Packard (HP) that many customers who purchased its computers were having issues with service support
Indicate whether the statement is true or false
The DuPont Model measures ROE by multiplying __________.
A. the current ratio x total asset turnover x the equity multiplier B. the profitability ratio x times interest earned x the equity multiplier C. the profitability ratio x total asset turnover x the equity multiplier D. the current ratio x times interest earned x the equity multiplier