Kindly help me with accounting questions A company purchased for cash a manufacturing equipment with alist price of $180,000. The equipment was shipped FOB shippingpoint at a cost of $8,500. Installation and calibration of theequipment cost $7,200. What is the recorded acquisition cost of themanufacturing equipment?

Detailed explanation:The acquisition cost of an asset includes all costs necessary to get it ready…

Answered: A company purchased for cash a…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 5CE: Prepare journal entries for the following transactions: a. A machine with a cost of 10,000 and...

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The acquisition of a new machine with a purchase price of $96,072, transportation costs of $7,638, installation costs of $6,963, and special acquisition fees of $2,105, would be journalized with a debit to the asset account for a.$96,072 b.$112,778 c.$105,140 d.$103,035
The acquisition of a used machine with a purchase price of $44,994, requiring an overhaul costing $9,118, installation costs of $4,677, and special acquisition fees of $31,965 would be journalized with a debit to the asset account for Oa. $54,112 0b. 590.754 O c. $136,514 O d. $44,994
Target purchased equipment. The following data relates to the purchase: Purchase cost Purchase cost Freight cost Costs of building a foundation and installation Salvage value Useful life O $35,400. Depreciation expense each year using the straight-line method will be O $29,400. ✔--- PURE LU HUGAUCUNE Raw YHANIN E SUARNENE wemo w 04 O $24.600. O $24.000. O $24.600. $150,000 $150.000 7,000 4 20,000 30.000 5.years:
Prepare journal entries for the following transactions: a. A machine with a cost of 10,000 and accumulated depreciation of 8,000 was sold for 2,500. b. A machine with a cost of 10,000 and accumulated depreciation of 8,000 was traded for a new machine with a market value of 12,000. Cash of 9,500 was also paid.
When depreciation is recorded each period, what account is debited? a. Depreciation Expense b. Cash c. Accumulated Depreciation d. The fixed asset account involved Use the following information for Multiple-Choice Questions 7-4 through 7-6: Cox Inc. acquired a machine for on January 1, 2019. The machine has a salvage value of $20,000 and a 5-year useful life. Cox expects the machine to run for 15,000 machine hours. The machine was actually used for 4,200 hours in 2019 and 3,450 hours in 2020.
A manufacturer purchases a machine for $30,000 with a salvage value of $5,000. The estimated useful life is 8 years, and depreciation is calculated using the straight- line method. The shipping cost is $1,200, and the installation cost is $1,800. What is the depreciation expense for year 2? A) $3,450 B) $3,500 C) $3,600 D) $3,800
Use exact info in question. Sabel Company purchased assembly equipment for $594,000 on January 1, Year 1. Sabel's financial condition immediately prior to the purchase is shown in Required B. The equipment is expected to have a useful life of 220,000 machine hours and a salvage value of $22,000. Actual machine-hour use was as follows. Year 1 58,000 Year 2 73,000 Year 3 44,000 Year 4 38,000 Year 5 12,000 Required Compute the depreciation for each of the five years, assuming the use of units-of-production depreciation. Assume that Sabel earns $232,000 of cash revenue during Year 1. Record the purchase of the equipment and the recognition of the revenue and the depreciation expense for the first year in a horizontal statements model. Assume that Sabel sold the equipment at the end of the fifth year for $22,800. Record the general journal entry for the sale.
The acquisition of a used machine with a purchase price of $44,994, requiring an overhaul costing $9,118, installation costs of $4,677, and special acquisition fees of $31,965 would be journalized with a debit to the asset account for Oa. $54,112 0b. 590.754 O c. $136,514 O d. $44,994The acquisition of a used machine with a purchase price of $44,994, requiring an overhaul costing $9,118, installation costs of $4,677, and special acquisition fees of $31,965 would be journalized with a debit to the asset account for Oa. $54,112 0b. 590.754 O c. $136,514 O d. $44,994.
On January 2, Bering Co. disposes of a machine costing $44,000 with accumulated depreciation of $24,625. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $18,250 cash. 2. The machine is traded in for a new machine having a $60,200 cash price. A $25,000 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. 3. The machine is traded in for a new machine having a $60,200 cash price. A $15,000 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance.
What is the cost of the equipment??
A company that manufactures pulse Doppler insertion flow meters uses the Straight Line method for book depreciation purposes. Newly acquired equipment has a first cost of $160,000 with a 3-year life and a $19,000 salvage value. Determine the depreciation charge and a book value for year 2. The depreciation charge is $ The book value for year 2 is determined to be $
Subject - account Please help me. Thankyou.

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A company purchased for cash a manufacturing equipment with a list price of $180,000. The equipment was shipped FOB shipping point at a cost of $8,500. Installation and calibration of the equipment cost $7,200. What is the recorded acquisition cost of the manufacturing equipment?