User Account

All Pages

Calculate the cost of the equipment

Assignment Help Accounting Basics
Reference no: EM132486903

Question - Pharoah Enterprises purchased equipment on March 15, 2018, for $81,910. The company also paid the following amounts: $470 for freight charges; $219 for insurance while the equipment was in transit; $1,707 for a one-year insurance policy; $2,212 to train employees to use the new equipment; and $3,041 for testing and installation. The equipment was ready for use on April 1, but the company did not start using it until May 1.

Pharoah has estimated the equipment will have a 10-year useful life with no residual value. It expects to consume the equipment's future economic benefits evenly over the useful life. The company has a December 31 year end.

Required - Calculate the cost of the equipment.

Reference no: EM132486903

Questions Cloud

What are the main motor skill changes : What physical activities would you try to implement to help them develop both fine and gross motor skills? How might you encourage caregivers at home
What amount of interest revenue : What amount of interest revenue from the lease should Smith Co. report in its December 31, 2021, income statement
What is the state of nature : What is the State of Nature? Are humans, by nature, fundamentally different from one another? What do individuals have to surrender to form a complex society?
Homozygous deletion of the gene : Note: for this question, the amount does not matter, if a homozygous deletion would prevent the formation then they are NOT present, if a homozygous deletion
Calculate the cost of the equipment : Pharoah Enterprises purchased equipment on March 15, 2018, for $81,910. The company has a December 31 year end. Calculate the cost of the equipment
Explain the way effective hrm practices help : Explain the way effective HRM practices help improve the employee satisfaction and development and increase the performance of the organization
How does hume account for good and bad actions : How does Hume account for good and bad actions? What does Hume mean when he says that people are superficial reasoners?
What is the prons and cons of Doris buying the car : Describe two sets of circumstances, one when the loan would be the better choice and one when saving up would be the better choice
What are the common themes for all the different : What are the common themes for all the different repair mechanisms?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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