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Question - On 2 January 2018, Johnston Ltd purchased a machine with a list price of $187,400 (including GST) and credit terms of 2/10, n/30. Payment was made within the discount period. Freight costs of $4,300 plus GST and installation costs of $4,220 plus GST were also paid. The machine has a useful life of 4 years and a residual value at the end of its useful life of $19,200.
Required - Determine the amount that should be debited to the machinery account and prepare a general journal entry to record the purchase, assuming a financial year ending 31 December.
Hailey's Hats began the month with a bank balance of $10 000. The budgeted sales for March to June are as follows: Prepare a cash receipts budget for April May
The actual machine hours for the year turned out to be 77,000. Required: Compute the company's predetermined overhead rate
Feherty, Inc., purchased the following investments during December 2013:
Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2014
AB builders inc has 12-year bonds outstanding with a face value of $1,000 and a market price of $974. The bonds pay interest annually and have a yield to maturity of 4.03 percent. What is the coupon rate?1. 3.75.2. 4.20 percent.3. 4.25. 4. 7.50 perce..
preble company manufactures one product. its variable manufacturing overhead is applied to production based on direct
Micro Miller Company's budgeted sales for April were estimated at $700,000, Determine the budgeted selling expenses on a flexible budget for April
Explain briefly written representations, internal control communications, and management letters.- Include the general content of the communication,
What are the two rights that are the fundamental components of social Justice?Name and describe the three Ethical Frameworks.
Show in good format, how the company would report the bonds on their balance sheet on December 31, 2015. How would they classify the bond payable on December
the hokie corporation is considering two mutually exclusive projects. both require an initial outlay of 10000 and will
Dove Corporation had purchased the land as an investment three years ago for $375,000, and the land was distributed subject to a $270,000 liability. Alexandra took the land subject to the $270,000 liability. What is Alexandra's basis in the land?
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