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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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EXERCISE 9-2

Purpose: (L.O. 1, 3) This exercise will give you practice in identifying capital expenditures and revenue expenditures.

Sellen Supply Company, a newly formed corporation, incurred the following expenditures related to Land, Buildings, and Equipment.

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Instructions

  • (a) Identify the amounts that should be debited to Land.
  • (b) Identify the amounts that should be debited to Buildings.
  • (c) Identify the amounts that should be debited to Equipment.

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