User Account

All Pages

Calculate the cost of the machine that should be capitalized

Assignment Help Accounting Basics
Reference no: EM133179887

Question - Jon Snow, Inc. purchased a new machine. Calculate the cost of the machine that should be capitalized on the Balance Sheet:

Fine incurred during transit 750

Insurance during the shipping of the machine 1,000

Invoice Price 3,500,000

Freight Costs 30,000

Sales Tax 175,000

Cost of plumber during installation 1,500

Spare parts needed for the machine 2,000

Cost of special base needed for the machine 4,500

One year insurance policy for the machine 2,400

You received a 2% discount on the invoice price 70,000

Please show all Calculations.

Reference no: EM133179887

Questions Cloud

Determine the effective cost of trade credit : Orio limited entered into an agreement with its' supplier on a terms of 3/20, net 45. Assuming a 360 days year, determine the effective cost of trade credit
Describe the various types of air cargo carriers : 1) Explain the origins of the air cargo industry and how it has expanded over time. Research the history of an air cargo company and summarize.
Developing a global compensation program : Colgate-Palmolive is a $15.4 billion global company with operations in over 80 countries and 50 percent of its executives are US nationals stationed in other co
Write an overview of what is revealed about the company : Locate the financial statements for Pfizer Company that provides segmented financial information. Write an overview of what is revealed about the company
Calculate the cost of the machine that should be capitalized : Question - Jon Snow, Inc. purchased a new machine. Calculate the cost of the machine that should be capitalized on the Balance Sheet
Description of the projects or responsibilities : Give a very detailed description of the projects or responsibilities that you have on your internship and what you have accomplished to date
What was the change in cash from financing : Using the following assumptions, what was the change in cash from financing? Starting cash was $10,000, increase in inventory by $5,000
Evaluate probability and impact of each identified risk : Evaluate the probability and impact of each identified risk or problem as low, medium, or high.
What is jane and patrick monthly mortgage payment : The couple decided to put 20% down payment and took the 30-year mortgage with monthly payments. What is Jane and Patrick monthly mortgage payment

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