Identify the Appropriate Accounting Treatment for Each of the Payments

question 20

Short Answer

Identify the appropriate accounting treatment for each of the payments listed below using the following code:
C = Capitalize
E = Expense
N = Neither of the above
______ 1.Paid one-month's rent on an office
______ 2.Bought a new truck
______ 3.Bought new hand-held computers for the sales staff
______ 4.Paid for insurance coverage for one year
______ 5.Paid to tune up the truck
______ 6.Paid the employees their weekly wages
______ 7.Paid cash to the owners as a dividend
______ 8.Paid for construction of a building
______ 9.Paid to paint a machine
______ 10.Incurred a cost designed to make a machine work two additional years

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Definitions:

Standard Deviation

An indicator of the range of variability or spread within a data set, demonstrating the extent to which the values differ from the average.

Snowfall

Precipitation falling from clouds in the form of ice crystals, accumulating on the ground.

Mean

The arithmetic average of a set of values, found by adding all numbers in the set and then dividing by the count of those numbers.

Standard Deviation

A measure that is used to quantify the amount of variation or dispersion of a set of values.