User Account

All Pages

How much should be recorded as value of purchased equipments

Assignment Help Accounting Basics
Reference no: EM132760134

Question: A company purchased equipment with cash for $80,000. The fair value of the equipment on the date of the purchase was $10,000. The company pai $600 shipping, $500 installation fees and paid $300 annual insurance of the equipment. How much should be recorded as the value of the purchased equipment?

Reference no: EM132760134

Questions Cloud

What oppurtunity cost by taking into consideration industry : Explain what is oppurtunity cost by taking into consideration an industry (for example : e-commerce , retail , food etc ) or any specific company.
Why a crm system consists of databases : Why a CRM System consists of databases, data warehouses, and data mining?
What gain or loss should O report on the retirement : On 03-01-22, called in all of the bonds at the call price of 103. What gain or loss should O report on the retirement of the bonds
What are five strategic issues : What are five strategic issues specifically related to a firm's capabilities? How are they different from Industry-related strategic issues?
How much should be recorded as value of purchased equipments : A company purchased equipment with cash for $80,000. The fair value of the equipment on the date of the purchase was $10,000. The company pai $600 shipping.
Compute firm equivalent unlevered cost of equity : The company's required rate of return on equity is 13% and company tax rate is 25%. Compute firm's equivalent unlevered cost of equity
What kind of cash flows might expect to see : What kind of cash flows you might expect to see for a profitable/growing business like this. describe a business that is in the profitable
What is the relationship of policies to strategies : When should a corporation or business unit outsource a function or an activity? Also elaborate what is the relationship of policies to strategies?
Decline stage of the organizational life cycle : How can a corporation keep from sliding into the Decline Stage of the organizational life cycle?

Reviews

Write a Review

Accounting Basics Questions & Answers

  The separate databases and records of different company

Customer information is buried deep in the separate databases and records of different company departments. To overcome such problems, many companies are now turning to ________ to manage detailed information about individual customers.

  Prepare multi step income statement and closing entries

Cusick Department Store is located near the Village Shopping Mall. At the end of the company's calendar year on December 31, 2012, the following accounts.

  Computing the firm weighted average cost of capital

What weight should be assigned to the common stock when computing the firm's weighted average cost of capital?

  A large municipality is considering the enactment of an ad

1.caroline and clint are married have no dependents and file a joint return in 2013. use the following selected data to

  Mark developed a new type of recording device

Mark developed a new type of recording device, which he named The Listener. He wrote an operatin manual for the device. What can Mark obtain trademark protection for?

  Compute her IRA deduction

Ms. Ray is age 46 and single. Her employer made a $2,590 contribution to her qualified profit-sharing plan account, Compute her IRA deduction

  Calculate the new cif price

Original quotation made by exporter A for article X is USD 1200 per m/t CFR Rotterdam. Suppose the importer asks for CIF price. Calculate the new CIF price.

  Compute the companys break-even point in units

Cosmo, Inc. produces memory enhancement kits for DVR machines. Compute the company's break-even point in both units and dollars

  What is the maximum write-off for these purchases

Sid elects not to take additional first-year depreciation. If Sid elects Section 179, what is the maximum write-off for these purchases for 2014

  Why would tax prepares need to review prior years tax law

The various tax services provide Internal Revenue Code (IRC) histories for researchers who need them. Why would tax prepares need to review prior years' tax law

  What is the predetermined overhead rate to the nearest cent

Standard hours allowed for the actual output 3,850 DLHs and Actual total fixed overhead cost P47,995. What is the predetermined overhead rate to nearest cent

  Determine the tax consequences to Vito

Vito used the money to purchase a boat, and he had $2,500 of investment income. Determine the tax consequences to Vito and Vito, Inc

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