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For each of the following expenditures, indicate the type of account (asset or expense) in which the expenditure should be recorded. describe your answers.

A. $200 for repairing damage that resulted from the careless unloading of a new machine.

B. $ 7,000 cost of designing and registering a trademark.

C. $ 1,400 in legal fees incurred to perform a title search for the acquisition of land.

D. $400 cost of patching a leak in the roof of a building.

E. $90,000 cost of salaries paid to the research and development staff.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M993259

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