Berger paid for optional accident insurance for transport

Assignment Help Accounting Basics
Reference no: EM13396909

Berger Company purchased equipment having an invoice price of $22,500. The terms of sale were 3/10, n/60, and Berger paid within the discount period. In addition, Berger paid a $235 delivery charge, $615 installation charge, and $1,528 sales tax. Berger paid for optional accident insurance for transport of the equipment amounting to $35. The amount recorded as the cost of this equipment is:

$24,913

$24,878

$24,238

$24,203

Reference no: EM13396909

Questions Cloud

Your family members know youre taking this class and you : your family members know you are taking this class and you learned about time value of money. four of them came
Burke corporation was organized on january 1 2014 it is : burke corporation was organized on january 1 2014. it is authorized to issuenbsp10600nbspshares of 8 101nbsppar value
Find the affect of inflation on international business why : what is the affect of inflation on the international business? why do countries with high gni and gdp are attractive
Write down the differences between common law civil law : what are the differences between common law civil law customary law and theocratic law? what is the political risk and
Berger paid for optional accident insurance for transport : berger company purchased equipment having an invoice price of 22500. the terms of sale were 310 n60 and berger paid
Why are many governments in todays world liberalizing : why are many governments in todays world liberalizing cross-border movements of goods services and resources?what are
What was the mean number of us states in which all of the : 1. what was the mean number of u.s. states in which all of the beer brands were sold in in 2008?2. what was the mean
Storm occurrence services sos offers services to secure : storm occurrence services sos offers services to secure houses and properties when major storms are forecast for an
Find out which institutional and risk factors should be : cameron international corporation with revenues of 6134.8 million fy 2010 net profit of 562.9 million fy 2010 and an

Reviews

Write a Review

Accounting Basics Questions & Answers

  Affect the taxable income of two owners

Sara owns a sole proprietorship and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the ..

  Dividends and net income

Use the following information and the percent-of-sales method to answer questions. For consistency with the Answer selections provided, please round your forecast percentages to two decimals.)

  Direct materials cost and direct labor cost

What term is commonly used to describe the concept whereby the cost of manufactured products is composed of direct materials cost, direct labor cost, and factory overhead cost?

  Reduce the residual value remaining furniture

Purchased office furniture on credit from Goodyear supply for defective office furniture received on may 10 and returned for credit. The return of defective furniture will reduce the residual value remaining furniture to $3000.

  Roles of accountants and auditors

What is the differences and similarities between the roles of accountants and auditors. What additional expertise must an auditor possess beyond that of an accountant?

  Degree of homogeneity

The greater the degree of homogeneity, a. the greater the number of needed cost pools. b. the fewer the number of needed cost pools. c. the less accurate the costs of a particular cost objet, d. greater the variety of cause and effect relationships w..

  Determine which step is the most difficult to execute

Investigate the steps involved in the preparation of an advance plan for the distribution of cash in a partnership liquidation to determine which step is the most difficult to execute correctly. Discuss possible ways to address the difficulties yo..

  Does warranty accrual decision create any ethical dilemma

Does warranty accrual decision create any ethical dilemma for Bly and since warranty expenses vary, what % do you think Bly could select for the current year? Justify your response.

  Geh is in the business of owning and running hotels

GEH is in the business of owning and running hotels with an 'eco' theme - meaning they must be environmentally and socially responsible, but capable of making a good profit in the medium to long term.

  Guidance for particular transaction

What should an accountant do if the guidance for a particular transaction or event is not specified within the FASB ASC?

  Revenue-related motive of attracting new sources

The best means to accomplish the revenue-related motive of attracting new sources of demand is to:

  Describe ifrs and gaap

Evaluate at least three significant differences and similarities between IFRS and GAAP and the impact these similarities and differences can have on financial statements.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd