User Account

All Pages

What amount is the capitalizable cost of the equipment

Assignment Help Accounting Basics
Reference no: EM133092326

Question - On September 3, 2020, TS Company place a non-cancellable purchase order with a Japanese company for a custom-built machine. The contract price was 1,000,000 yens. The machine was delivered on December 23, 2020. The invoice was dated November 13, 2020, the shipping date (FOB Shipping point). The vendor was paid on January 7, 2021. The spot rates for the Japanese yens on the respective dates are as follows:

September 3, 2020: P0.20

November 13, 2020: P0.21

December 23, 2020: P0.22

December 31, 2020: P0.23

January 7, 2021: P0.24

Required - What amount is the capitalizable cost of the equipment?

Reference no: EM133092326

Questions Cloud

Draft a brief memorandum to lincoln and thomas : Draft a brief memorandum to Lincoln and Thomas explaining the balance on his current account and advise him of his options with regard to the balance
Calculate net sales for the year : The following amounts appeared in the adjusted trail balance of company X for the year. Calculate net sales for the year
Project management life cycle : Choose two Project Management Life Cycle (PMLC) models that you have experience using or that interest you and provide two similarities and two differences
Construct solid communication plan : Using your selected organization, diagnose the organization's level of resistance, and construct a solid communication plan.
What amount is the capitalizable cost of the equipment : The contract price was 1,000,000 yens. The machine was delivered on December 23, 2020. What amount is the capitalizable cost of the equipment
BUSN07025 The Economic Environment Assignment : BUSN07025 The Economic Environment Assignment Help and Solution, University of the West of Scotland - Assessment Writing Service
What is the depreciation in the first year : Chichi Corp. is constructing a new building at a total initial cost of P10,000,000. What is the depreciation in the first year using component depreciation
Describe two to three macroeconomic factors : Describe two to three macroeconomic factors that influence interest rates in general. Explain the effects of each factor on interest rates.
What journal entries must be made to convert this investment : What journal entries must be made to convert this investment from the cost method to the equity method? Provide an explanation for each entry

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much money must be put into a bank account

How much money must be put into a bank account yielding 5.5% annually in order to have RM250 at the end of five years

  How much of the transaction price should be allocated

Required - Calculate how much of the transaction price should be allocated to each performance obligation in the contract

  What is the breakeven number of units

Fine Leather Enterprises sells its single product for $129 per unit. What is the breakeven number of units that FLE has to sell

  Prepare the journal entry to record the issuance

Create an amortization table through December 31, 2019 (three interest periods) for this bond issue

  What are the dividends per share figure

Griffins Goat Farm, Inc., has sales of $666,000, costs of $328,000, depreciation expense of $72,000, What are the dividends per share figure

  Explain the discounted cash flow techniques

Pick one of the three discounted cash flow techniques (Dividend Discount Model, Free Cash Flow to Equity, or Free Cash Flow to Firm) and in a 2-3 page paper.

  What is the company depreciation charge for the year

Rays International depreciates non-current assets at a rate of 25% per annum. What is the company's depreciation charge for the year to 31 July

  What is target pricing

What is target pricing?

  A production departments output for the most recent month

a production departments output for the most recent month consisted of 11500 units completed and transferred to the

  Determine the tax consequences of the transfers to all party

Accounting work during the incorporation process in return for six shares of stock. Determine the tax consequences of the transfers to all parties.

  What would you pay today for a stock that is expected

What would you pay today for a stock that is expected to make a $2 dividend in one year if the expected dividend growth rate is 5% and you require a 12% return.

  Determine for March the equivalent units of production

Baltimore uses the weighted average method. Use this information to determine for March 2019 the equivalent units of production for conversion costs

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