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
- 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.Hh1. Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $121,930. The seller agreed to allow a 5.25 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,320. Southwest Milling had to hire a specialist to calibrate the loader. The specialist’s fee was $1,220. The loader operator is paid an annual salary of $32,000. The cost of the company’s theft insurance policy increasedWildhorse 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?
- Please show your solution in good accounting form. Thank you!Sheridan Company incurs the following costs in purchasing equipment: invoice price, $40,500; shipping, $1,025; installation and testing, $1,600; one-year insurance policy, $2,750.What is the cost of the equipment?Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $115,370. The seller agreed to allow a 6.25 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation cost amounted to $2,080. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $1,150. The loader operator is paid an annual salary of $11,910. The cost of the company's theft insurance policy increased by $2,090 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $9,900. Required: Determine the amount to be capitalized in an asset account for the purchase of the front-end loader. Note: Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign. Costs that are to be capitalized: List price Total costs
- Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $121,170. The seller agreed to allow a 5.50 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,650. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $1,070. The loader operator is paid an annual salary of $39,060. The cost of the company's theft insurance policy increased by $2,070 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $11,100. Required Determine the amount to be capitalized in the asset account for the purchase of the front-end loader. Note: Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign. Costs that are to be capitalized: List price Total costssnjuRizio company purchases a machine for 10,100, terms 1/10, n/60, FOB shipping point
- ABC Manufacturing Corp. consigned 10 refrigerators to XYZ Sales Company. These refrigerators had a cost of P180,000 each. Freight on the shipment was paid by QWE in the amount of P120,000. XYZ Sales Company submitted an account sales stating that it had sold 6 refrigerators and remitted the P1,365,000 balance due QWE after the following deductions from the selling price of the refrigerators: Commission (based on selling price)……………………………………… 15% Marketing expenses………………………………………………………….. P 90 Delivery and installation of items sold……………………………………. 60 Cartage cost paid upon receipt of consignment…………………….. 15 The consignor’s net profit from the sale of the consigned goods was?southwest milling co. purchased a front end loader to move stacks of lumber. the loader had a list price of $117,270. the seller agreed to allow 5.50 percent discount because southwest milling paid cash. delivery terms were FOB shipping point. Freight cost amounted to $2790. southwest milling had to hire a specialist to calibrate the loader. The specialist's fee was $990. The loader operator is paid an annual salary of $13,640. The cost of the company's theft insurance policy increased by $1,770 per year as a result of acquiring the loader. The loader had a four year useful life and an expected salvage value of $6,100. a. Determine the amount to be capitalized in an assest accound for the purchase of the front end loader.Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $122,380. The seller agreed to allow a 4.25 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,200. Southwest Milling had to hire a specialist to calibrate the loader. The specialist’s fee was $1,190. The loader operator is paid an annual salary of $42,940. The cost of the company’s theft insurance policy increased by $2,290 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $5,500. Determine the amount to be capitalized in the asset account for the purchase of the front-end loader. (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign.)
