What is the cost that will be record for this plant asset

Assignment Help Accounting Basics
Reference no: EM133071097

Question - Fred's Carpentry purchases a new truck for its business. The cost of the truck is $33,000. Sales tax amounts to $3,000, installation costs for shelves in the bed of truck total $2,400, painting and lettering of the truck total $1,850. What is the cost that will be record for this plant asset?

A. $36,000

B. $40,250

C. $33,000

D. $38,400

Reference no: EM133071097

Questions Cloud

What is the present value of a stream : Question - What is the present value of a stream of 5 end-of-year annual cash receipts of $2,400 given a discount rate of 20%
R/617/2272 Network Information Systems Assignment : R/617/2272 Network Information Systems Assignment Help and Solution, OTHM Level 5 Diploma in Information Technology - Assessment Writing Service
Prepare larkspur journal entries for the january : The implicit interest rate is 15%. Prepare Larkspur's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest
Identify four primary functions of inventory : Identify four primary functions of inventory, and give practical example to illustrate each function in an action related to aviation or aerospace operation.
What is the cost that will be record for this plant asset : Question - Fred's Carpentry purchases a new truck for its business. The cost of the truck is $33,000. What is the cost that will be record for this plant asset
Torts and product liability : Summarize the statutes from your state related to driving under the influence (DUI) and texting while driving.
Determine the cost of raw cosmetics transferred : Determine the cost of raw cosmetics transferred from the molding department to the assembly department during August
Prepare the financing activities section : There were no dividends unpaid at the beginning or the end of the year. Prepare the financing activities section of Carla Creek's statement of cash flows
Evaluate the business-level strategy : Evaluate the business-level strategy of either Starbucks or Lockheed Martin to determine whether you believe the strategy is appropriate to offset forces

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd