State whether the following expenses are capital or revenue in nature:
(i) Expenses on whiteashing and painting of a building purchases to make it ready for use.
(ii) Rs 10,000 spent on constructing platform for a new maching
(iii) Repair expenses of Rs 25,000 incurred for whitewashing of factory building
(iv) Insurance premium paid as renewal premium
(v) Purchased a new car.

Answer

Capital Expense - (i) ; (ii) ; (v); Revenue Expense - (iii) and (iv)