User Account

All Pages

What the presto will record acquisition cost of equipment

Assignment Help Accounting Basics
Reference no: EM133023988

Question - Presto Company purchased equipment and these costs were incurred:

Cash price $65,000

Sales taxes 3,600

Insurance during transit 640

Installation and testing 860

Total costs $70,100

Required - What the Presto will record the acquisition cost of the equipment?

a. $68,600.

b. $70,100.

c. $69,240.

d. $65,000.

Reference no: EM133023988

Questions Cloud

Compute the cash flow from asset for blow corporation : Following information is extracted from the books of Blow Corporation. Compute the cash flow from asset for Blow Corporation
Company subscriptions to azure : If you are responsible for budgeting and expenditures for your company's subscriptions to Azure,
What is access control : What is access control? How do cyber operators like you manage their users' access to company resources?
Determine the consolidated cost of sales : On the date of acquisition, Subsidiary Company reported Ordinary Shares of P800,000. Determine the consolidated COST OF SALES
What the presto will record acquisition cost of equipment : Presto Company purchased equipment and these costs were incurred: Cash price $65,000. What the Presto will record acquisition cost of equipment
What is their cost of goods purchased : Comprest Company has the following account balances: Purchases of $9,412, Purchase Returns and Allowances of $612, What is their Cost of Goods Purchased
What is the maximum annual withdrawal you can make : If upon retirement in 25 years, you plan to invest $850,000 in a fund that earns 6% each year, what is the maximum annual withdrawal you can make
What is the estimated recovery percentage : Salaries payable amounted to P2M while taxes due government amounted to P1M. What is the estimated recovery percentage
What was the company revenue for the year : Blue Spruce Corp. began the year with retained earnings of $322000. If Blue's ending retained earnings was $342000, what was the company's revenue for the year

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