Define and compare capital expenditures and revenue expenditures.
13) Prepare journal entries for the following for Bartz, Inc.
May 11 Replaced the engine in a Van #1, paying cash of $5,400.
May 18 Paid cash for a tune-up of the engine in Van #2 of $570.
May 29 Paid cash to add a lift to Van #2 of $3,700
14) A budgeted item such as a building is listed as a ________.
15) The principle of reporting items that are least likely to overstate assets or net income is ________.
16) Define and compare capital expenditures and revenue expenditures.
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