Classify the following into capital and revenue
1. Rs.7,500 spent on replacement of a part of a plant.
2. Rs.10,500 spent on complete overhauling of a second hand machinery just bought.
3. Carriage expenses Rs.2,530.
4. Profit on sale of asset Rs.7,000.
5. Rs.2,500 loss on sale of furniture.
6. Rs.32,000 spent on purchasing a patent right.
7. Freight charges paid on new plant amounts to Rs.7,500.
8. Repairs of Rs.5,750 for furniture.
9. Rs.5,000 spent towards expenses connected with rain water harvesting as per Government orders.
10. Rs.7,50,000 spent towards initial advertising expenses.
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Answer:
Capital income & expenditures - 2,4,5,6,7
Revenue incomes & expenditures - 1,3,8,9,10
I hope it helps :)
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