1. State whether the following expenses are capital or revenue in nature:
(i) Expenses on whitewashing and painting of a building purchased to make it ready for use.
(ii) 10,000 spent on constructing platform fora new machine.
(iii) Repair expenses of 25,000 incurred for whitewashing of factory building.
(iv) Insurance premium paid as renewal premium.
(v) Purchased a new car.
(vi) Wages paid to install a machine.
(vii) Repairs carried out on existing car.
(viii) Office block of building repainted for 50,000.
(ix) Paid telephone bill of ? 2,500.
T.S.Grewal/2024 Edition/Practical Problems/Q-01
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.
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