Reference no: EM132960953
On April 1, 2021, Versace purchased a machine from a supplier which trade discount of 5% was given. An additional 2% cash discount if the account is paid in 30 days. The invoice for machinery purchased was paid on April 30, 2021 which is also the date when the machinery was fully installed and ready for intended use.
The machinery will be used for 5 years. Information related to this acquisition were as follows:
Invoice price of the machine acquired P8,000,000
Freight, unloading, and delivery charges for machinery acquired 240,000
Custom duties and other charges for machinery acquired 360,000
Allowances and hotel accommodation paid to foreign technicians during installation and test run of machine 550,000
Estimated dismantling cost to be incurred at the end of useful life (10% discount rate) 149,020
Cost of training for personnel who will use the machine 150,000
Problem 1: How much is the cost of the machine?
a. P8,532,530
b. P9,082,530
c. P8,690,530
d. P9,139,020
|
What the land should be capitalized at
: Miser received P6,000 for selling scrap when an existing building on the property was removed from the site. Based on facts, the land should be capitalized at?
|
|
Whole foods market-a luxury grocer in detroit
: Case Issues: What are the issues facing the company/organization? What needs to be decided?
|
|
How much gain should herald recognize on the exchange
: How much gain should Herald recognize on this exchange, and at what amount should the acquired computer be recorded, respectively?
|
|
Develop a competency program
: You are the appointed Human Resources Manager in a top caliber manufacturing industry organization. Recently, you had an expansion project to run an additional
|
|
How much is the cost of the machine for versace
: How much is the cost of the machine? On April 1, 2021, Versace purchased a machine from a supplier which trade discount of 5% was given.
|
|
What is the average number of days
: Net Credit Purchases - P120,000.00 ; Raw Materials Used - P96,000.00 ; Gross Profit Rate - 25%. What is the average number of days
|
|
Identify some of the laws citing examples in workplace
: Identify some of these laws citing examples in your workplace. In various countries there are laws that organizations must follow in the workplace.
|
|
How much would the share price increases
: The company currently has 50,000 common shares outstanding and zero debt. How much would the share price increases
|
|
Which best describes par value for a stock
: Which best describes par value for a stock? An arbitrary amount set by the company for each share of stock./ The current market value of the stock
|