ACCY 202 1st Edition Lecture 13Outline of Last LectureI. Week 5 Overview1. CostsII. Balance Sheet Income Statement1. Items That Transfer into Journal Entry2. CapitalizationIII. Property Costs1. AdditionOutline of Current LectureI. Week 5 Test Materials1. Property, Plant, Equipment2. Revenue Expenditures3. Capital Expenditure4. Ordinary RepairsCurrent LectureI. Week 5 Test Materials 1. Property, Plant, Equipment- Tangible assets used in operation of a business that have a useful life of more than one accounting period2. Revenue Expenditures- Costs incurred during the life of the asset that do not materially increase the assets life3. Capital Expenditure- Another name is balance sheet expenditure4. Ordinary Repairs- Expenditures to keep an asset in normal operating condition- Necessary if an asset is to perform to expectations over its useful life- Treated as expendituresThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Include cleaning, lubricating and normal
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