ACC201 Property Plant & EquipmentExercises from the Text, Chapter 9a macE9-2 Benedict Company incurred the following costs:1. Sales tax on factory machinery purchased2. Painting of and lettering on truck immediately upon purchase3. Installation and testing of factory machinery$ 5,0007002,0004. Real estate broker's commission on land purchased3,5005. Insurance premium paid for first year's insurance on new truck8806. Cost of landscaping on property purchased7. Cost of paving parking lot for new building constructed8. Cost of clearing, draining,9. Architect's fees on self-constructed building3,50017,900filling land13,30010,000InstructionsIndicate to which account Benedict would debit each of the costs.

Cost accounting is a branch of management economics that aims to capture a company's total cost of…

mac E9-2 Benedict Company incurred the following costs: 1. Sales tax on factory machinery purchased 2. Painting of and lettering on truck immediately upon purchase 3. Installation and testing of factory machinery 4. Real estate broker's commission on land purchased $ 5,000 700 2,000 3,500 5. Insurance premium paid for first year's insurance on new truck 6. Cost of landscaping on property purchased 880 3,500 7. Cost of paving parking lot for new building constructed 8. Cost of clearing, draining, and filling land 9. Architect's fees on self-constructed building 17,900 13,300 10,000 structions dicate to which account Benedict would debit each of the costs.

mac E9-2 Benedict Company incurred the following costs: 1. Sales tax on factory machinery purchased 2. Painting of and lettering on truck immediately upon purchase 3. Installation and testing of factory machinery 4. Real estate broker's commission on land purchased $ 5,000 700 2,000 3,500 5. Insurance premium paid for first year's insurance on new truck 6. Cost of landscaping on property purchased 880 3,500 7. Cost of paving parking lot for new building constructed 8. Cost of clearing, draining, and filling land 9. Architect's fees on self-constructed building 17,900 13,300 10,000 structions dicate to which account Benedict would debit each of the costs.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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