FINANCIAL ACCOUNTING-W/SOLN.MANUAL
14th Edition
ISBN: 9781285477978
Author: Weil
Publisher: CENGAGE L
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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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