Chocolate Supreme purchased new baking equipment for $15,000 subject to terms 4/10, n/45. The discount was taken. Additional costs included sales tax of $900 and installation of $300. The total cost to be added to the machinery account is: A. $15,000 B. $15,900 C. $15,300 D. $15,600 E. none of the above
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- Rizio Co. purchases a machine for $14,800, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $148 discount. Transportation costs of $334 were paid by Rizio. The machine required mounting and power connections costing $1,023. Another $482 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $215 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment: Invoice price of machine Net purchase price Total cost to be recordedRizio Company purchases a machine for $9,600, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $96 discount. Transportation costs of $217 were paid by Rizio. The machine required mounting and power connections costing $664. Another $313 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $285 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment: Invoice price of machine Net purchase price Total cost to be recordedPlease provide a complete solution and with explanation for better understanding. Thank you. ABC Consigned 15 construction machines to XYZ Co. The machines cost P450,000 each. Freight on the shipment which was paid by ABC amounted to P300,000. XYZ Co. submitted an account sale stating that they had sold 6 units and remitted P3,412,500 balance due to ABC after the following deductions: Commission 20% of selling price; Marketing expenses P325,000; Delivery of items sold 250,000; Delivery cost paid upon receipt of consignment 137,500. Compute for the selling price per unit.
- Sandwich Express incurred the following costs related to its purchase of a bread machine.Cost of the equipment $ 20,000Sales tax (8%) 1,600Shipping 2,200Installation 1,400Total costs $ 25,200At what amount should Sandwich Express record the bread machine?a. $20,000.b. $21,600.c. $23,800. d. $25,200.Raymond Stamping Services purchased a stamping machine priced at $21,500. The firm had to pay a sales tax of $1,200 on this purchase. Raymond also paid the inbound transportation charges of $525 on the new machine, as well as a labor cost of $1,350 to install the machine in the factory. In addition, Raymond had to prepare the site before installation at a cost of $2,125. Determine the cost basis for the new machine for depreciation purposes.Rizio Company purchases a machine for $13,600, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $272 discount. Transportation costs of $307 were paid by Rizio. The machine required mounting and power connections costing $940. Another $443 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $270 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine, Amount Included in Cost of Equipment: Invoice price of machine 24 13,600 272 Net purchase price 13,328 Transportation 307 Mounting and power connections 940 Assembly 443 Materials used in adjusting 40 Total cost to be recorded 2$ 15,058 eBook Pro G Search or type URL ** %23 $4 & 2 4. 6 7 10 E T Y U D F G H. K L
- Rizio Co. purchases a machine for $12,000, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $120 discount. Transportation costs of $271 were paid by Rizio. The machine required mounting and power connections costing $830. Another $391 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $360 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine.Please show your solution in good accounting form. Thank you!Kegler Bowling buys scorekeeping equipment with an invoice cost of $185,000. The electrical work required for the installation costs $19.000. Additional costs are $3,800 for delivery and $13,300 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,795. Required: Indicate whether each cost should be included in the cost of the equipment or excluded and expensed as incurred. Costs Invoice cost Electrical work required for installation Delivery costs Sales tax Repair costs Total recorded cost Amount $ 185,000 10,000 3,800 13,300 1.795 Included or Excluded Account
- Rizio Company purchases a machine for $13,800, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $276 discount. Transportation costs of $312 were paid by Rizio. The machine required mounting and power connections costing $954. Another $450 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $285 worth of repairs were made.Rizio Co. purchases a machine for $13,100, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $262 discount. Transportation costs of $296 were paid by Rizio. The machine required mounting and power connections costing $906. Another $427 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $265 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine.Rizio Co. purchases a machine for $12,500, terms 2∕10, n∕60, FOB shipping point. Rizio paid within the discount period and took the $250 discount. Transportation costs of $360 were paid by Rizio. The machine required mounting and power connections costing $895. Another $475 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $180 worth of repairs were made. Compute the cost recorded for this machine.
