User Account

All Pages

What cost should be recorded for the commercial safe

Assignment Help Accounting Basics
Reference no: EM13911736

Minott Jewelers, Ltd., purchased store fixtures, display cases, and a maximum security commercial safe for a lump sum price of $14,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $6,000; display cases, $9,000; commercial safe, $5,000.

Required:
What cost should be recorded for the commercial safe?

Reference no: EM13911736

Questions Cloud

Stockholders'' investment appears in : Stockholders' investment appears in
Calculate the probability that no patrol cars pass : Calculate the probability that no patrol cars pass through the neighborhood during a nightly shift. Based on your answer in part a, do you believe the agency's claim? Explain.
Prepare the entry to record the employer payroll taxes : Prepare the entry to record the employer payroll taxes
What conclusion would you draw about the hospitals medical : Given the hospital's record and part a, what conclusion would you draw about the hospital's medical practices regarding anesthesia?
What cost should be recorded for the commercial safe : Appraised values were as follows: store fixtures, $6,000; display cases, $9,000; commercial safe, $5,000.
Standard temperature and pressure : A sample of nitrous oxide (N2O) has a volume of 12.5 L at standard temperature and pressure (STP).
Symbols of all the reatants and product : Write a chemical equation of the reaction which takes place when salt 'XSO4' reacts with sodium hydroxide solution.Give the state symbols of all the reatants and product which occur in the above equation.
Explain the meanings of n r and n : In the context of the hypergeometric distribution, explain the meanings of N, r, and n. When can a hypergeometric distribution be approximated by a binomial distribution? Explain carefully what this means.
Calculate expected abnormal price-earnings ratio for stock : Depreciation is expected to be $12 million for the remaining life of the assets, which have a salvage value of $78 million. Magic's nominal cost of capital is 12%. Estimate CFROI using the conventional approach.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Net cash used for investing activities

Burger Palace Corporation reports a net cash used for investing activities of $3.4 million and a net cash provided by financing activities of $1.6 million. If cash increased by $1.1 million during the year, what was the net cash flow provided from..

  Based on your answer for 1b above should the company buy

company vgg is thinking of buying a factory to meet the growing demand for its products. the following is the financial

  Exclusion on the sale of a taxpayer''s principal residence

if not entirely used in one sale, the unused portion of the $250,000 exclusion on the sale of a taxpayer's principal residence may be used to reduce the recognized gain on the sale of the taxpayer's next residence. True or False?

  Source of constraint for manufacturing company

A machine has been identified as a bottleneck and the source of the constraint for a manufacturing company that has multiple products and multiple machines. Dicsuss ways the company can overcome the bottleneck.

  Lucas gives his mother karen 15000 a year for karen to help

lucas gives his mother karen 15000 a year for karen to help pay for the cost of living. karen also receives in addition

  Prepare the current assets section of the balance sheet for

prepare the journal entry to record the estimated uncollectibles. assume an unadjusted balance of zero in allowance for

  Frther investigation has revealed that 49000 of the fixed

product r19n has been considered a drag on profits at buzzeo corporation for some time and management is considering

  Propose expense allocation system for heat, rent, insurance

Visit a local movie theater and check out both its concession area and its showing areas. The manager of a theater must confront questions such as: How much return do we earn on concessions?

  What was the cost per equivalent unit for conversion costs

parmentier company uses the weighted-average method in its process costing system. the molding department is the second

  Your new client has a computerized accounting system for

your new client has a computerized accounting system for all financial statement cycles. during planning you visisted

  On february 1 2010 the balance of the retained earnings

on february 1 2010 the balance of the retained earnings account of blue power corporation was 567000. revenues for

  Budgets in managerial accounting

Does the budget suggest that additional workers are needed? Suppose the wage rate is $20 per hour. How many additional labor hours are needed in May?

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