User Account

All Pages

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

  Find the fair value rounded off of the leased asset

Find the Fair Value (rounded off) of the leased asset. Lease payments inception (at the start) $60,000.Date of entering lease 1 July 2019

  Vertical model to prepare the income statement

Compute the cost of goods sold and ending inventory, assuming FIFO cost flow, LIFO cost flow, and weighted average cost flow. Use a vertical model to prepare the 2010 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, w..

  Find the firm degree of financial leverage

Stumpy's Gator Farm forecasts that its net income will be $46,800 this year. Find the firm's degree of financial leverage (DFL)

  How has erisa affected pension accounting

How do the accounting and economic conceptions of a pension liability differ?

  Compute annual depreciation expense

Bramble Company acquires a delivery truck at a cost of $62,000. Compute annual depreciation expense for the first and second years using straight-line method

  Explain the importance of accrual accounting

Explain the importance of accrual accounting and proper application of the matching principle for the computation of contribution margins

  What is the loss absorption power with respect to joe

Notes Payable to Scott and a P20,000 Notes receivable from Ed. When the liquidation begins, what is the loss absorption power with respect to Joe?

  Differences and similarities in audits of financial

What are the differences and similarities in audits of financial statement compliance audits operational audits?

  Analyzing capital expenditures

Assume that you have received a capital expenditure request for $52,000 for plant equipment and that you are required to do a justification analysis using capital budgeting techniques.

  Tx500 requires 6 units of component a sr200 does not use

kenner company produces two products sr200 and tx500. budged sales for four months are as followssr200

  Determine the number of shares issued

Jan. 10 Issued 100,000 common shares at $2 per share. Determine the number of shares issued and the average cost per share for both common and preferred shares

  Is a notes payable master file maintained

Are liabilities for notes payable incurred only after written authorization by a proper company official? Is a notes payable master file maintained?

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