2 seperate questions 494791

2 SEPARATE ASSIGNMENTS Write a 350- to 500-word summary explaining the differences between revenue expenditures and capital expenditures during a useful life and identifying any similarities. Briefly explain the entries of revenue expenditures and capital expenditures.   Format your summary consistent with APA guidelines.DUE Wednesday __________________________________________________ Exercises and Problems – Week Two Resource: Ch. 9 of Financial Accounting Complete Exercises E9-1, E9-7, & E9-12. Complete Problem P9-7B. Submit as a Microsoft® Excel® or Word document FORMAT TO APA GUIDELINES DUE FRIDAY E9-1 E9-1 The following expenditures relating to plant assets were made by Spaulding Company during the first 2 months of 2011. 1. Paid $5,000 of accrued taxes at time plant site was acquired. 2. Paid $200 insurance to cover possible accident loss on new factory machinery while the ma- chinery was in transit. 3. Paid $850 sales taxes on new delivery truck. 4. Paid $17,500 for parking lots and driveways on new plant site. 5. Paid $250 to have company name and advertising slogan painted on new delivery truck. 6. Paid $8,000 for installation of new factory machinery. 7. Paid $900 for one-year accident insurance policy on new delivery truck. 8. Paid $75 motor vehicle license fee on the new truck. Instructions (a) Explain the application of the cost principle in determining the acquisition cost of plant assets. (b)List the numbers of the foregoing transactions,and opposite each indicate the account title to which each expenditure should be debited. acquisitions. E9-7 E9-7 Brainiac Company purchased a delivery truck for $30,000 on January 1,2011.The truck has an expected salvage value of $2,000,and is expected to be driven 100,000 miles over its esti- mated useful life of 8 years.Actual miles driven were 15,000 in 2011 and 12,000 in 2012. Instructions (a)Compute depreciation expense for 2011 and 2012 using (1) the…