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
Q: Webster Corporation's statement of cash flows for the year ended December 31, 2009, was prepared…
A: To determine how much cash Webster Corporation received from customers during the year ended…
Q: Accounting Question
A: DefinitionsInventory Levels:Inventory refers to the goods a company holds for sale or production.…
Q: Please Give Me Answer of this Question
A: Step 1: Calculate the Variable Cost per Unit:• Variable Cost per Unit = (Highest Cost - Lowest Cost)…
Q: Accounting lindo company incures annual costs of $80,000 veritable costs for undo
A: Step 1:- Define Contribution Margin RatioThe contribution margin ratio can be defined as the…
Q: If you give me wrong answer I will give you unhelpful rate on these general accounting question
A: Step 1: Define Stockholders EquityShareholders' equity can be calculated by adding the share capital…
Q: Please Give me answer of this one
A: To determine the firm's Return on Equity (ROE), we applied the DuPont Identity, which breaks ROE…
Q: Give me Answer of this Question.. need correct option
A: Step 1: Detailed Definition of Gain or Loss on Disposal of an AssetThe gain or loss on disposal of…
Q: Hi expart Provide solution for this accounting question
A: re = r0 + D/E*(r0-rd) Where,r0 = Unlevered cost of equity = 9.7%rd = Cost of debt = 6%D/V =…
Q: I need answer of this question
A:
Q: I need questions answers accounting
A: Step 1: Define Cash cycleCash cycle refers to the number of days taken by a company to convert the…
Q: Don't want AI answer
A: Part A1. Dear Team,As the new manager of customer service, I am thrilled to work with you. I want to…
Q: I want answer
A: Explanation of Period Costs: Period costs are expenses that are reported in the period in which they…
Q: Calculate the dividend payout ratio on these financial accounting question.
A: Step 1: Define Dividend Payout RatioThe dividend payout ratio shows how the company's dividend and…
Q: nik.2
A: preparing Pension Worksheet for Sandhill Corporation's The question contain financial information…
Q: Brian and Monika are married and they have two children, aged 15 and 19. The 19 year old child is…
A: Step 1:as the 19-year-old dependent qualifies due to being physically incapable of self-care, and…
Q: Autumn Designs & Decorators issued a 120-day, 9% note for $66,000, dated April 13 to Zebra…
A: The note is issued for 120 days and it is dated April 13. Therefore, the due date of the note is 120…
Q: Need answer
A: Explanation of Hyperinflation: Hyperinflation is a period of extremely high and usually accelerating…
Q: Mason
A: Explanation of Process Costing System: A process costing system is a method of cost accounting used…
Q: August
A: 1) First, let's identify the variable costs: * Material costs: $4,820 * Labor costs: $2,620 *…
Q: Can you please answer the financial accounting question?
A: Step 1: Define AGIIt stands for the Adjusted Gross Income.As per the Internal Revenue Service it can…
Q: General account
A: IntroductionIn accounting for utilities, revenue recognition is a crucial aspect that ensures…
Q: Please give me answer accounting
A: Step 1: Define Present ValueWhen investing, it is important to estimate the future earnings of the…
Q: Financial Accounting
A: Step 1: Define Accounts Receivable Days OutstandingThe accounts receivable days outstanding (or days…
Q: Monty Corporation asks you to review its December 31, 2023 inventory values and prepare the…
A: Detailed explanation:1Physical Count as of December 31$ 234,4002Goods purchased from Shansi are…
Q: fix the last two boxes in red and replace the numbers with correct calculations
A: The Equipment is debited to recognize the asset because it has been expensed outright. The Equipment…
Q: I need answer of this question general accounting
A: Step 1: Define Operating incomeOperating income is that part of income which arise due to main…
Q: How much____?
A: Explanation of Material Price Variance: Material price variance measures the difference between the…
Q: (16) The general ledger accountant for a company asks for help to record a certain transaction in…
A: Step 1: Step 2: Step 3: Step 4:
Q: Give me true answer this accounting question
A: Step 1: Define High-Low MethodThe high-low method helps separate the total costs into variable and…
Q: What amount of goodwill is recorded on these general accounting question?
A: Step 1: Define Goodwill accountingIn accounting, the concept of Goodwill arises when a company…
Q: I want answer
A: Ans. ) Given the question is related to the concept of the learning curve.The learning curve can be…
Q: 8
A: Explanation of Gross Sales: Gross sales represents the total amount of all sales transactions for a…
Q: account
A: IntroductionGraham has been awarded a scholarship by the chemistry department at State University to…
Q: Please provide answer the accounting question Do fast and step by step calculation with explanation
A: Step 1: Define Fixed CostsA fixed costs is one that is incurred by virtue of being in business and…
Q: Gros
A: Explanation of Beginning Inventory: Beginning inventory is the value of goods a company has in stock…
Q: Financial accounting: what are some example of off balance sheet
A: DefinitionsOff-Balance Sheet Transactions:Off-balance sheet transactions are financial arrangements…
Q: 8 Under the incremental method of allocating common costs Select one: a. each party bears a…
A: a. Each party bears a proportionate share of the total costs in relation to their individual…
Q: I need answer of this question general accounting
A: Step 1: Define Predetermined Overhead RateThe rate at which manufacturing overhead is applied to…
Q: General accounting compute the determined overhead rate
A: Step 1:- Define Predetermined Overhead RateAs manufacturing overhead cannot be directly traceable to…
Q: I need answer of this question accounting
A: Step 1: Define Degree Of Operating LeverageThe degree of operating leverage is a financial ratio…
Q: (54) The following are payroll tax data related to the employees of a company: Federal Unemployment…
A: Payroll taxes are taxes that employers are required to pay when they pay their employees. These…
Q: The cost per period of the trade credit extended to Free Spirit, rounded to two decimal places, is…
A: 1. Cost per Period of Trade CreditExplanation and FormulaTrade credit is often extended by suppliers…
Q: Please give me answer
A: Step 1:Formula of units required for target profit= (Fixed cost+ target profit)/ Contribution per…
Q: Hello tutor please provide correct solution for this accounting question
A: Step 1:Mixed cost is that cost which includes both components of variable and fixed cost.To…
Q: General Accounting
A: Adjusted cash balance per bank = Balance per bank statement + Deposit in transit - Outstanding…
Q: Variable Costing
A: Option a: This option is incorrect because in variable costing, fixed manufacturing costs are…
Q: , Morganson, Inc. has assembled the following data for the year ended December 31, 2025: Prepare…
A: Morganson, IncStatement of Cash flowCash flow from Operating actvites Net Income 71500Adjustment…
Q: Sweet Corporation began operations in 2025 and reported pretax financial income of $246,000 for the…
A: Step 1 : Calculate Taxable Income:Financial Income: $246,000Tax Depreciation Excess: $39,000Taxable…
Q: General Accounting Question please answer
A: Step 1:Given data:EBIT: $95,000Debt (D): $133,000Cost of debt (rd): 8% or 0.08Tax rate (T): 35% or…
Q: Which costing required
A: Explanation of Absorption Costing: Absorption costing is a method that includes all manufacturing…
General Accounting Question solution with explanation
Step by step
Solved in 2 steps
- Rizio Company purchases a machine for $10,600, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $106 discount. Transportation costs of $240 were paid by Rizio. The machine required mounting and power connections costing $733. Another $346 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $325 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine.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 recorded
- Please 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.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
- Wildhorse Co. purchased equipment on January 1 at a list price of $155000, with credit terms 3/10, n/30. Payment was made within the discount period. Wildhorse paid $6500 sales tax on the equipment, and paid installation charges of $2100. Prior to installation, Wildhorse paid $3500 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment?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.On March 1, Bunker Hill Company purchased a new stamping machine with a list price of $78,000. Please give correct answer for this accounting question
- 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 AccountRizio 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.
