Fleming Company Purchased a Machine on January 1 2017

question 22

Essay

Fleming Company purchased a machine on January 1 2017. In addition to the purchase price paid the following additional costs were incurred: (a) sales tax paid on the purchase price (b) transportation and insurance costs while the machinery was in transit from the seller (c) personnel training costs for initial operation of the machinery (d) annual city operating license (e) major overhaul to extend the life of the machinery (f) lubrication of the machinery gearing before the machinery was placed into service (g) lubrication of the machinery gearing after the machinery was placed into service and (h) installation costs necessary to secure the machinery to the building flooring.
Instructions
Indicate whether the items (a) through (h) are capital or revenue expenditures in the spaces provided: C = Capital R = Revenue.

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Definitions:

Structuring Work

The process of organizing tasks, roles, and responsibilities in a work environment to achieve efficiency and productivity.

Apportioning Time

The process of allocating or dividing time between different tasks, activities, or responsibilities.

Ending Meetings

The process of concluding a meeting by summarizing key points, assigning action items, and stating the next steps.

Program Activities

Planned events, tasks, or actions designed to achieve specific goals within a program or initiative.