Question No 02 Chapter No 17
02.Which of the following expenses are capital or revenue? Also state reasons
- Expenses incurred on a foreign tour for purchasing a new machinery Rs 50,000
- Rs 1,500 paid for the removal of stock to a new site
- Custom duty paid Rs 14,500 on import of a machinery
- Gagan Cinema owners spent Rs 12,000 for machinery two more exits in the cinema hall as per legal requirement
- Rs 28,000 spent to reduce working expenses
- Rs 7,500 spent on repainting the office building
The solution of Question No 02 Chapter No 17:-
| S.NO | Transaction |
Capital | Revenue | |
| (i) | Expenses incurred on a foreign tour for purchasing a new machinery Rs 50,000 | Capital | ||
| (ii) | Rs 1,500 paid for the removal of stock to a new site | Revenue | ||
| (iii) | Custom duty paid Rs 14,500 on import of a machinery | Capital | ||
| (iv) | Gagan Cinema owners spent Rs 12,000 for machinery two more exits in the cinema hall as per legal requirement | Revenue | ||
| (v) | Rs 28,000 spent to reduce working expenses | Capital | ||
| (vi) | Rs 7,500 spent on repainting the office building | Revenue | ||
Final Accounts: Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
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Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
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