Show whether the cost should be capitalized or expensed

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Reference no: EM132091352

Question: Deciding Whether to Capitalize or Expense American Golf Corporation operates over 170 golf courses throughout the country. For each of the following items, enter the correct letter to show whether the cost should be capitalized (C) or expensed (E).

Transactions

____ 1. Purchased a golf course in Orange County, California.

____ 2. Paid a landscaping company to clear 100 acres of land on which to build a new course.

____ 3. Paid a landscaping company to apply fertilizer to the fairways on its Coyote Hills Golf Course.

____ 4. Hired a building maintenance company to build a 2,000 square-foot addition on a clubhouse.

____ 5. Hired a building maintenance company to replace the locks on a clubhouse and equipment shed.

____ 6. Paid an advertising company to create a campaign to build goodwill.

Reference no: EM132091352

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