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Cambridge IGCSE Accounting practice

Paper 2 structured question: Capital and revenue expenditure and receipts

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Capital and revenue expenditure and receipts

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Paper 2Structured Written Paper2 marks

A company has made various expenditures during the year.

Description

Expenditure Summary

The company spent $50,000 on new machinery, $10,000 on repairs, and received $20,000 from selling an old vehicle.

  1. a

    Identify the capital and revenue expenditures from the summary provided.

    Aim for approximately 2 distinct marking points.

    [2]

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Paper 2 structured question: Capital and revenue expenditure and receipts

Paper 2Structured Written Paper2 marks

Description

Misclassification Impact

The business reported $30,000 as revenue expenditure instead of capital expenditure for a new building.

  1. a

    Evaluate the impact of this misclassification on the financial statements.

    Aim for approximately 2 distinct marking points.

    [2]