ayback Show the calcul me information about two vehicles A and B, is provided in the table below. A B $24,000 $30,000 $0.15 $0.1375 ehicle ehicle Purchase Cost Wehicle Operating Cost Per Mile Useful Life of Vehicle years) 10 10
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- 1. Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost of trial runs 750 Installation costs 250 Sales tax 2,600 What is the cost of the equipment? a.$52,000 b.$54,600 c.$54,850 d.$55,600plem Set: Mod x * CengageNOW2| On x * Cengage Learning B Milestone Two Guidel x G module 5 problem se x+ ow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogres.. еBook Show Me How Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $44,000 in cash and giving a short-term note for $272,000. Legal fees paid were $1,780, delinquent taxes assumed were $14,700, and fees paid to remove an old building from the land were $21,700. Materials salvaged from the demolition of the building were sold for $4,700. A contractor was paid $960,600 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. Next Previous 3:20 PM Check My Work 11/28/2021 56 FPatent Item Patent A Patent B Patent C 1. 2. 3. Year 2026 2027 The following events occurred during the year ended December 31, 2025. 2028 Initial Cost $41,820 $15,600 $16,800 (a) (b) Expected Future Cash Flows $2,050 2,050 Research and development costs of $235,000 were incurred during the year. Patent D was purchased on July 1 for $45,372. This patent has a useful life of 9¹/2 years. 2,050 Click here to view factor tables. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent B's value may have occurred at December 31, 2025. The controller for Sheridan estimates the expected future cash flows from Patent B will be as follows. Date Acquired Your answer is correct. 3/1/21 The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.) Total carrying amount $ 7/1/22 9/1/23 eTextbook and Medial Useful Life at Date Acquired 17 years 10 years 4 years Compute the total carrying amount…
- Online teachin x n/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator=&inprogress%3false еВook Discussion Question 13-6 (LO. 4) On July 16, 2020, Logan acquires land and a building for $500,000 to use in his sole proprietorship. Of the purchase price, $400,000 is allocated to the building, and $100,000 is allocated to the land. Cost recovery of $4,708 is deducted in 2020 for the building (nonresidential real estate). a. What is the adjusted basis for the land and the building at the acquisition date? Land Building b. What is the adjusted basis for the land and the building at the end of 2020? Land Building $ 40 Previous Next Check My Work 10:57 PM 28°F Clear 2/14/2022Question Content Area A building with an appraisal value of $130,876 is made available at an offer price of $155,610. The purchaser acquires the property for $39,936 in cash, a 90-day note payable for $25,942, and a mortgage amounting to $59,561. The cost of the building to be reported on the balance sheet is a. $115,674 b. $125,439 c. $155,610 d. $130,876Bookmarks Window Help 0 14 eBook ACCT-2010-DEM01 Show Me How v2.cengagenow.com Check My Work 1 more Check My Work uses remaining. APR 4 C CengageNOWv2 | Online teaching and learning resourc... Units-of-activity Depreciation A truck acquired at a cost of $495,000 has an estimated residual value of $27,900, has an estimated useful life of 54,000 miles, and was driven 4,300 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost (b) The depreciation rate (c) The units-of-activity depreciation for the year 467,100 All work saved. 10- per mile tv Email Instructor G A q 20 Tue Apr 4 15 19 Cengage Learn Save and Exit Previous Submit Assignmen
- lod X * CengageNOWv2 | On x 6 Cengage Learning B Milestone Two Guidel x G module 5 problem set x lrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=.. 向 еВBook Show Me How Units-of-activity Depreciation A truck acquired at a cost of $180,000 has an estimated residual value of $9,850, has an estimated useful life of 41,000 miles, was driven 3,300 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost (b) The depreciation rate per mile (c) The units-of-activity depreciation for the year Next Previous 33 Check My Work A O E O 11/2 56°F Mostly cloudy %23Brief Exercise 9-02 Cullumber Company incurs these expenditures in purchasing a truck: cash price $26,070, accident insurance (during use) $1,780, sales taxes $1,550, motor vehicle license $320, and painting and lettering $2,050.What is the cost of the truck? The cost of the truck $Enter a dollar amountA used machine with a purchase price of $39,664, requiring an overhaul costing $9,823, installation costs of $5,782, and special acquisition fees of $15,293, would have a cost basis of a.$101,460 b.$39,664 c.$70,562 d.$49,487
- Company XYZ purchased the following PPE: Item Purchased Date of Cost Estimate Useful Purchase Life Aircon February 18, 30,000 5 2015 Laptop March 14, 2015 57,000 3 May 11, 2015 November 20, Tables 14,000 Desktop 26,050 3 2015 Whiteboard January 4, 2016 24,000 The company charges a monthly depreciation on the month of purchase. What is the depreciation expense of Company XYZ for the year ending December 31, 2015?ng Enabled: FINAL EXAM Help Save &Exit Submit Salvia Company recently purchased a truck. The price negotlated with the dealer was $43,500. Salvia also pald sales tax of $2,700 on the purchase, shipping and preparation costs of $3,700, and Insurance for the first year of operation of $4,700. At what amount should the truck be recorded on the balance sheet prior to recording depreclation expense? Multiple Choice $47,200. $49,900. $43,500. $46,200.Attempts 0 Allowed Attempts 1 File Types png, pdf, and jpeg Available Sep 20 at 10:30am - Sep 22 at 10:30am 2 days Follow this format: Assignment format-1.pdf A telephone company purchased microwave radio equipment for P6,000,000. Freight and installation charges amounted to 3% of the purchased price. If the equipment shall be depreciated over a period of 8 years with a salvage value of 7%, determine the following: Determine the depreciation charge during the 5th year and the book value at the end of 5 years by the (a) declining balance method (b) double declining balance method (c) sinking fund method at 12% Previous Next amagon W