Financial Accounting
Financial Accounting
14th Edition
ISBN: 9781111823450
Author: Weil, Roman L./
Publisher: Cengage Learning
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General accounting
A company purchased for cash a machine with a list price of $85,000. The machine was shipped FOB shipping point at a cost of $6,500. Installation and test runs of the machine cost $4,500. The recorded acquisition cost of the machine is which amount? a. $96,000 b. $126,000 c. $85,000 d. $92,000
Baxter Industries reported the following financial data for one of its divisions for the year: • Average invested assets = $600,000 • Sales = $1,200,000 Income = $140,000 What is the investment turnover? a) 2.75 b) 3.40 c) 2.00 d) 4.25 e) 5.00
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