Identify each of the following items as either a capital expenditure (C), expense on the...
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Accounting
Identify each of the following items as either a capital expenditure (C), expense on the income statement (E), or neither (N): Type of Expenditure 1. Paid property taxes of $75,000 tor the first year the new bulidion. 1. Paid property taxes of $75,000 for the first year the new building is occupied. 2. Paid interest on construction note for new plant building, $550,000 3. Repaired plumbing in main plant, paying $270,000 cash. 4. Purchased equipment for new manufacturing plant, $6,000,000; financed with long-term note. 5. Paid dividends of $40,000. 6. Purchased a computer and pepheral equipment for $29,000 cash. 7. Paved a parking lot on leased property for $300,000. 8. Paid $90,000 in cash for installation of equipment in (4). 9. Paid $148,000 to tear down old building on new plant site. 10. Paid $31,000 maintenance on equipment in (4) during its first year of use
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