What is the acquisition cost of the new computer?
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Q: Santa Rosa recently purchased a new boat to help ship product overseas. The followinginformation is…
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Don Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List price- P304,000 Trade discount and rebates taken- P112,000 Installation and assembly cost- P6,400 Initial delivery and handling cost- P12,800 Purchase discount- 2% What is the acquisition cost of the new computer?
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- XY Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List Price 152,000Trade discounts and rebates taken 56,000Installation and assembly cost 3,200 Initial delivery and handling cost 6,400Purchase Discount 2% What is the acquisition cost of the new computer?DELIBIRD Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List price P152,000 Trade discounts and rebates taken 56,000 Installation and assembly cost 3,200 Initial delivery and handling cost 6,400 Purchase discount 2% What is the acquisition cost of the new computer? O94.080 O 105.680 O 103,680 O160.600Broed Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List price P152,000 Trade discounts and rebates taken 56,000 Installation and assembly cost 3,200 Initial delivery and handling cost 6,400 Purchase discount 2% What is the acquisition cost of the new computer? a. 94,080 b. 103,680 c. 160,600 d. 105,680
- Santa Rosa recentiy 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. $ 4,375,000 X Feedback Check My Work Remember that any costs incurred in the process of acquiring an asset and making it ready for its intended use can be capitalized as part of the value of the asset. Any other costs that maintain the asset during its use are standard expenses (not capitalized). B. Record the journal entry needed. If an amount box does not require an entry, leave it blank. Вoat 4,375,000 X Cash 4,375,000 XThe acquisition of a new machine with a purchase price of $82,058, transportation costs of $7,947, installation costs of $5,554, and special acquisition fees of $2,127, would be journalized with a debit to the asset account forA new machine with a purchase price of $83,068.00, with transportation costs of $8,140.00, installation costs of $5,906.00, and special acquisition fees of $2,555.00. Calculate a cost basis. Select the correct answer. $83,068.00 $99,669.00 $91,529.00 $88,974.00
- Josiah Co acquired a new machine. Details of the acquisition are as follows: Purchase price including VAT 1,568,000 Cost of water device to keep machine cool 8,000 Cost of safety rail and platform surrounding machine 12,000 Installation cost, including site preparation and assembling 20,000 Fees paid to consultants for advice on acquisition of the machinery 13,000 Present value of the estimated dismantling cost of the new machine 10,000 Repair cost of the machine damaged while in the process of installation 5,000 Loss on premature retirement-old machine 18,000 Other nonrefundable sales tax 13,000 Cost of training for personnel who will use the machine 25,000 Cost of removing old machine 10,000 Determine the cost of the MachinerySanta Rosa recently purchased a new boat to help ship product overseas. The followinginformation 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 $30,000• Received 8% discount on sales priceDetermine the acquisition cost of the boat, and record the journal entry needed.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
- What amount should be capitalized as the cost of the new equipment? The Whale Corporation acquired some new equipment. The following data have been made available to you: List price of the equipment Freight paid on the new equipment Cash discount available but not taken Cost of removing the old equipment Installation costs of the new equipment P140,000 4,500 2,000 1,700 4,300 Testing costs before the equipment was put to regular operations (including P1,200 in wages of the regular operator) Loss on premature retirement of the old equipment Estimated cost of manufacturing similar equipment in the company's own plant, including overhead Oa. P288,650 O b. P150,650 O c. P149,750 O d. P147,750 O Other: 2,950 1,200 138,000The acquisition of a new machine with a purchase price of $80,545, transportation costs of $9,221, installation costs of $6,311, and special acquisition fees of $2,597, would be journalized with a debit to the asset account for Oa. $80,545 Ob. $89,453 Oc. $86,856 Od. $98,674Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase: Purchase price $840,000 Cost to bring boat to production facility $25,000 Yearly insurance cost $3,600 ·Annual maintenance cost of $12,000 Cost to make the boat handicap accessible $9,000 Received 8% discount on sales price Determine the acquisition cost of the boat, and record the journal entry needed.