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ZanzabumX [31]
3 years ago
10

Point Company paid $4,000 cash to purchase a new machine. The company also paid $500 cash for an initial training cost that was

necessary to teach an employee how to operate the machine. Which of the following represents the journal entry that would be necessary to record all capitalized costs related to the purchase of the machine?debit machine (4500), credit cash (4500)
Business
1 answer:
spin [16.1K]3 years ago
4 0

Answer:

Dr Machinery $4500

Cr Cash                      $4500

Explanation:

The reason is that the Internation Accounting Standard IAS 16 Property, Plant & Equipment says that the company must capitalized all those costs that are necessary to make the asset ready to use which means that the cost of training which is $500 and purchasing cost which is $4000 must be capitalized as part of the asset.

So the entry would be:

Dr Machinery $4500

Cr Cash                      $4500

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Meaning of jobbers in business studies<br>​
Leni [432]

Answer: in business a jobber is a manufacturer, tradesman, or wholesaler who deals in small lots of goods or 'jobs,' or acts as an agent, middleman (intermediary), or a sub-contractor, and usually does not deal directly with the principal customer.

Explanation: a jobber is also an informal name for a broker or someone that negotiates with shares or stocks.

4 0
2 years ago
You are aware that your neighbor trades stocks based on confidential information he overhears at his workplace. This information
Margaret [11]

Answer:

Semi-strong Form Efficient.

Explanation:

There are three levels of market efficiency as weak, semi-strong and strong.

In a semi-strong form efficient market, the stock prices change independently of the previous return points and the current information so it is not possible to predict the future stock prices.

The example given in the question, which states that the neighbor has non-public information, can be classified as a semi-strong form efficient market.

I hope this answer helps.

6 0
3 years ago
Suppose that a large lake in the middle of Minnesota evaporates, leaving more fertile farm land for growing corn available. Assu
densk [106]

Wages would fall as the number of workers available grows. Landowners in Louisiana will earn more rent as the demand for land increases.

<h3>What is the law of demand and supply?</h3>

The law of supply and demand is still in effect:

Wages: when the amount supplied increases, but the quantity required does not, the price falls.

When the quantity required increases without the quantity supplied increasing, the price rises.

Thus, Wages would fall as the number of workers available grows.

For more details about law of demand, click here:

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7 0
1 year ago
How do you change your profile name on brainly?
sergejj [24]

Answer:

i don't think your able to...

6 0
2 years ago
Read 2 more answers
Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Mater
Fed [463]

Answer:

Explanation:

The preparation of the cost of goods manufactured is presented below:

Zoe Corporation

Statement of Cost of Goods Manufactured

For Month Ended March 31, 20XX

Work in process inventory March 1   $22,000

Direct materials :    

Materials inventory, March 1  $6,000  

Add: Purchases       $92,000  

Cost of materials for use $98,000  

Less - materials inventory, March 31 -$8,000  

cost of materials placed in production $90,000  

Add:

Direct labor  $25,000  

Factory overhead  $37.000  

Total manufacturing costs added  $152,000

Total manufacturing costs     $174,000

Less- work in process inventory, March 31  $23,500

Cost of goods manufactured   $150,500

7 0
2 years ago
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