BU127 Study Guide - Chief Executive Officer, Promissory Note, Capital Asset
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BU127 Full Course Notes
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Document Summary
Repairing/renovating: machinery and equipment, architectural fees, building permits, contractor"s charges, materials, labour, purchase price, brokerage commissions, sales and other taxes, purchase price (less discounts), transportation charges, insurance in transit, Sales and other taxes, purchase commission, installation costs, expenditures (testing), special platforms: land, purchase price, real estate commission, survey fees, legal fees, property. Taxes, expenditures (grading and clearing: land improvements: are all improvements located on the land but subject to decay, paving, fences, sprinkler systems, lighting in parking lot. Land improvement costs are not included in the cost of the land, but: leasehold improvements: appears on the company"s balance sheet as leasehold carried as a separate asset. Improvements : amortized over the term of the lease. Captial expenditure and immediate expense: does the expenditure increase capacity or efficiency or extend useful life, yes capital expenditure, record as an asset, no expenses, record as an expense. Investing activities: operating activities, acquisitions and sales of capital assets, amortization expense (added to)
