For each cost that appears in items 1 through 6 below, select the account in which it would be included and reported from those listed in a through
c. You may use more than one answer for each cost. If the cost is not capitalized, place an X in the space provided.
_____ 1. Installation costs of a special attachment to newly acquired equipment
_____ 2. Freight costs for shipping the equipment into our manufacturing facility
_____ 3. Costs of repairing a hole knocked in the wall during installation of new equipment
_____ 4. Interest costs on a mortgage loan used to purchase a newly acquired building
_____ 5. Property taxes paid on land for the current year on which a new building was erected
_____ 6. Training session to teach faculty how to use computer projection equipment recently installed in classrooms

Question

For each cost that appears in items 1 through 6 below, select the account in which it would be included and reported from those listed in a through
c. You may use more than one answer for each cost. If the cost is not capitalized, place an X in the space provided.
  _____ 1. Installation costs of a special attachment to newly acquired equipment
_____ 2. Freight costs for shipping the equipment into our manufacturing facility
_____ 3. Costs of repairing a hole knocked in the wall during installation of new equipment
_____ 4. Interest costs on a mortgage loan used to purchase a newly acquired building
_____ 5. Property taxes paid on land for the current year on which a new building was erected
_____ 6. Training session to teach faculty how to use computer projection equipment recently installed in classrooms

Quizplus · Accepted Answer

The Answer of For each cost that appears in items 1 through 6 below, select the account in which it would be included and reported from those listed in a through
c. You may use more than one answer for each cost. If the cost is not capitalized, place an X in the space provided.
  _____ 1. Installation costs of a special attachment to newly acquired equipment
_____ 2. Freight costs for shipping the equipment into our manufacturing facility
_____ 3. Costs of repairing a hole knocked in the wall during installation of new equipment
_____ 4. Interest costs on a mortgage loan used to purchase a newly acquired building
_____ 5. Property taxes paid on land for the current year on which a new building was erected
_____ 6. Training session to teach faculty how to use computer projection equipment recently installed in classrooms

For Each Cost That Appears in Items 1 Through 6