User Account

All Pages

Calculate the initial purchase prise of the property plant

Assignment Help Accounting Basics
Reference no: EM132811146

On 1 july 2019 proper plant ltd acquired an automated botitng plant from an oversas supplier to assist in manufacturing an innovative new health drink.the purchase coast were $500000.ijmport duties and taxes $70000 transportation expenses were $5000 and the installation coast were $25000 the transportation and installationcoast were paid on recept of the machine aan arrangement with the supplier was reached to pay the remaing balance within 120 dayes of receiving the machine the company incurred coast of $5000 for routiong maintannce and servicing of the plant within 90 days of operation the fair value of the plant (incuding installation )was $650000.

Problem 1: Calculate the initial purchase prise of the property plant and equipment (automated botting plant) and show your working (including refrences to the accounting standerds)

Problem 2: Prepare genral entries to record the initial purchases of property palmnt and equoipment using Cost model

Reference no: EM132811146

Questions Cloud

What amount should be reported as a current liability : In Black's December 31, 20x0, balance sheet, what amount should be reported as a current liability for advances from customer?
What is an example of a customer blueprint : Consider the touch points at the different components of the guest cycle, including pre-arrival, arrival, on site, departure, and assessment.
List three effective management communication characteristic : List three effective management communication characteristics.
Assess the key elements that define strategy : i. Assess the key elements that define strategy and spell out the key elements of strategic management?
Calculate the initial purchase prise of the property plant : Calculate the initial purchase prise of the property plant and equipment (automated botting plant) and show your working (including refrences to the accounting)
Identify one concept you learned about in the video : In your own words, how does this speaker's ideas intersect with education (and/or other) policy that impacts youth? Identify at least one concept you learned.
Which is an advantage of the relative market value approach : Which is an advantage of the relative market value approach to joint cost allocation? The weighted factors used by the relative market value approach
What would be amount of the credit in contributed surplus : On December 31, 2016, 60,000 options remained unexercised. What would be amount of the credit in contributed surplus account
Describe the concept of separation of powers : Describe the concept of separation of powers. The Federal Government of Malaysia adopts the concepts of separate of powers namely the legislative, executive

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