Question

Agree / Disagree? Give reason to support your answer.Repairs expenses incurred on machine are to be debited to Repairs account.​///jnfbjdytah//how to increase the amount of time to get it done before the end of the day​

Answer 1

Answer:

Heavy expenditure done on an overhaul of second machinery is a capital expenditure as it is going to increase the efficiency of the machinery. It has to be debited to machinery account.

If this has been debited to repairs and maintenance expenses account, its an error of principle.