What amount should Kollywood record on the books for this machine? Kollywood Home Interiors purchased a high-precisioncutting machine as part of its expansion into customfurniture manufacturing. The invoice price of the machinewas $105,000. Kollywood also incurred the followingadditional costs associated with purchasing the machine:Delivery charge: $3,200Installation cost: $2,800First-year maintenance and power costs: $600What amount should Kollywood record on the books forthis machine?

Concept of Capital Expenditure:Capital expenditure refers to the money spent by a business to…

Answered: Kollywood Home Interiors purchased a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 9EB: Ronson recently purchased a new boat to help ship product overseas. The following information is...

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Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase: • Purchase price $4,500,000 • Cost to bring boat to production facility $25,000 • Yearly insurance cost $25,000 Annual maintenance cost of $37,000 • Received 8% discount on sales price A. Determine the acquisition cost of the boat. B. Record the journal entry needed. If an amount box does not require an entry, leave it blank. 10
Rizio Company purchases a machine for $10,000, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $100 discount. Transportation costs of $226 were paid by Rizio. The machine required mounting and power connections costing $691. Another $326 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $365 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
Answer? ? General Accounting
Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase: Purchase price $4,100,000 Cost to bring boat to production facility $29,000 Yearly insurance cost $29,000 Annual maintenance cost of $40,000 Received 6% discount on sales price A. Determine the acquisition cost of the boat. $? B. Record the journal entry needed. If an amount box does not require an entry, leave it blank.
Denger
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.
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 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 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.
Ronson recently purchased a new boat to help ship product overseas. The following information is related to that purchase: purchase price $4,500,000 cost to bring boat to production facility $15,000 yearly insurance cost $12,000 pays annual maintenance cost of $22,000 received a 10% discount on sales price Determine the acquisition cost of the boat and record the journal entry needed.
Anchor Company purchased a manufacturing machine with a list price of $88,000 and received a 2% cash discount on the purchase. The machine was delivered under terms free on board (FOB) shipping point, and transportation costs amounted to $2,800. Anchor paid $3,900 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $5,000 for the first year of operations. What is the cost of the machine? Multiple Choice O O O O $92,940 $97,940 $89,040 $86,240
Rakesh

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