User Account

All Pages

The amount to be capitalized as the cost of the machine

Assignment Help Financial Accounting
Reference no: EM132316652

Question

On August 1, 2017, Marigold Corp. style="color:inherit;"> purchased a new machine on a deferred payment basis. A down payment of $5000 was made and 4 annual installments of $30000 each are to be made beginning on September 1, 2017. The cash equivalent price of the machine was $92500.

Due to an employee strike, Marigold could not install the machine immediately, and thus incurred $1750 of storage costs. Costs of installation (excluding the storage costs) amounted to $3250. The amount to be capitalized as the cost of the machine is?

Reference no: EM132316652

Questions Cloud

What amount should oriole inc record for the asset received : The asset given up by Sandhill Co. has a book value of $121000 and a fair value of $106000. Boot of $15000 is received by Sandhill Co.
History of organization from theory of scientific management : In your own words, trace the history of organizations from the Theory of Scientific Management to Human Resources Management. Who were the key players
Design IOT based temperature and humidity Monitoring system : To design an IOT based temperature and humidity Monitoring and Controlling system for University of South Australia
Find out some online common myths about careers : Find out some online common myths about careers, the relationship between major and career, how you get into a career
The amount to be capitalized as the cost of the machine : A down payment of $5000 was made and 4 annual installments of $30000 each are to be made beginning on September 1, 2017.
Benefits and disadvantages of tools : What are the benefits and disadvantages of these tools? What combination of tools would be best for your business & industry? Why?
What are the weighted-average accumulated expenditures : Sheffield Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6456000 on March 1.
Compare the leadership style : General Motor's executives told me they were looking for 3 qualities in prospective employees. Compare and contrast the leadership style of Donald Trump
Contributes to a successful project outcome : What individual and/or team skills significantly contributes to a successful project outcome?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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