User Account

All Pages

What cost should the equipment be recorded in the accounting

Assignment Help Accounting Basics
Reference no: EM132808363

Problem 1: Equipment was purchased for a total cost of 10,000 including sales tax. In addition, freight charges were 500 and cost of installation 2,000. The insurance cost while in transit was 800. Once the equipment was operating, the yearly insurance expense was 1,200 and the repairs 400. At what cost should the Equipment be recorded in the Accounting Books and subject to depreciation?

Option 1: 13,300
Option 2: 14,900
Option 3: 14,500
Option 4: 10,000

Reference no: EM132808363

Questions Cloud

Determine the amount of net income : Determine the amount of Net Income. Selected Account Balances from The Adjusted Trial Balance of True. Cost of Goods Sold 150,000
Law of compensation for dismissal : Law of compensation for dismissal without just cause.Unjustified Dismissal Law (Allowance Law)
What is the effect of the adjustment to compute : Philip Inc owns 100% of Dave Inc's common stock. What is the effect of the adjustment to compute 20X1 consolidated net income?
Contrast the external and internal dimensions of a career : -Contrast the external and internal dimensions of a career. Which do you believe is more relevant in determining an employee's work behavior?
What cost should the equipment be recorded in the accounting : Yearly insurance expense was 1,200 and the repairs 400. At what cost should the Equipment be recorded in the Accounting Books and subject to depreciation?
Understanding of the situation of the disabled person : To provide you with an opportunity to coordinate individual or group learning and development.
Do you agree with the nlra complaint process : Employees covered by the NLRA are guaranteed the right to form, join, decertify, or assist a labor organization, to work together to improve terms and condition
Distinguish between the terms classified and comparative : Distinguish between the terms classified, comparative. Why is the statement of financial position a logical place to begin a discussion offinancial statements
Explain goal setting and strategic planning : Do you think that, based on their goal setting and strategic planning, that their career website works as a recruitment format? Why or Why not?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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