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Acquisition Cost On January 1, 2014, Pearl Inc. purchased a piece of equipment with a list price of $60,000. The following amounts were related to the equipment purchase: Terms of the purchase were 2/10, net 30. Pearl paid for the purchase on January 8. Freight costs of $1,000 were incurred. A state agency required that a pollution control device be installed on the equipment at a cost of $2,500. During installation, the equipment was damaged and repair costs of $4,000 were incurred. Architect's fees of $7,900 were paid to redesign the work space to accommodate the new equipment. Pearl purchased liability insurance to cover possible damage to the asset. The three-year policy cost $8,000. Pearl financed the purchase with a bank loan. Interest of $3,000 was paid on the loan during 2014. Required: Determine the acquisition cost of the equipment.
In the United States, about one in every four companies uses variable costing for internal reporting purposes. These companies must make adjustments to these reports for external-reporting purposes. Explain.
straightforward net present value and internal rate of return the city of bedford is studying a 600-acre site on route
trigen corp. management will invest cash flows of 528382 286398 295100 818400 1239644 and 1617848 in research and
On december 15, 2010 pascal declared a cash dividend of $2.00 per share to stockholders of recordon december31. The dividend is payyable on january 15 2011 pascal has issued 1,000,000 shares of common stock, of which 50,000 shares are held in trea..
Assume the conditions from part (a) are met. Prepare the Journal entry on August 15,20X0, for Gringo to record the sale of receivable, assuming the recourse obligation has a fair value of $2,000.
A. Low Carb Diet Supplement, Inc. has two divisions. Division A has a profit of $100,000 on sales of $2,000,000. Division B is only able to make $25,000 on sales of $300,000. Based on the profit margins (returns on sales), which division is superior?
baldwin corp. began the year with cash of 35000 and a computer that cost 20000. during the year baldwin earned sales
company manufactures plastic storage crates and has the following information available for the month of aprilwork in
What is the incremental cost associated with producing an extra 50,000 jars of salsa. What is the incremental cost associated with the price reduction of $0.30 per jar?
jupiter explorers has 8800 in sales. the profit margin is 4 percent. there are 5300 shares of stock outstanding. the
bright spark ltd is a manufacture of the electrical switches and uses a standard costing system. the standard
What percentage interest in the pool is held by the town and the school district? Show the entry in the Investment Trust Fund to record the School District's investment in the pool.
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