1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
scoundrel [369]
3 years ago
9

On March 1, Wright Company purchased new equipment for $58,500 by paying cash. Other costs associated with the equipment were: t

ransportation costs, $2,700; sales tax paid $4,700; and installation cost, $4,200. At what amount will the equipment be recorded on a balance sheet
Business
1 answer:
OLga [1]3 years ago
7 0

Answer:

$70,100

Explanation:

The computation of the equipment recorded on a balance sheet is shown below:

= Purchase of new equipment + transportation cost + sales tax paid + installation cost

= $58,500 + $2,700 + $4,700 + $4,200

= $70,100

We simply added the above four items so that the recorded value of an equipment could come

You might be interested in
According to liquidity preference theory, money supply and money demand are balanced by adjustments of
givi [52]

Answer:

Nominal Interest rate

Explanation:

According to liquidity preference theory, money supply and money demand are balanced by adjustments of Nominal Interest rate. Suppose you have some money, you will decide to either keep it in cash or in the bank. If you keep the money in cash, the opportunity cost of keeping in cash is the interest rate earned if you would have kept the money in the bank. Bank offers the nominal interest rates and not the real interest rates. Bank rates are not adjusted for inflation. So if the interest rate on money increases the opportunity cost of holding money in cash increases. If money supply in the economy increases the demand for money will increase only by reducing the interest rate because then only people fir hold cash and demand higher money.  So, money supply and money demand are balanced by adjustments of the Nominal Interest rate.

5 0
2 years ago
Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $12,000). The sales tax law requires
Nitella [24]

Answer and Explanation:

The journal entries are shown below:

1. On Sep 30

Cash    $15750

   To Sales   $15,000

   To Sales taxes payable ($15000 ×5%)  $750

(Being the cash receipts is recorded)

For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it increased the revenue and liabilities

2   On Sep 30

Cost of goods sold   $12,000

              To Merchandise inventory $12,000

(Being the cost of goods sold is recorded)

For recording this we debited the cost of goods sold as it increased the expenses and credited the merchandise inventory as it reduced the assets

3  On Oct 15

Sales taxes payable $750

      To Cash $750

(Being cash paid is recorded)

For recording this we debited the sales tax payable as it reduced the liabilities and credited the cash as it decreased the assets

5 0
3 years ago
Z Corp. can make three individual deliveries to three different customers at a cost of $500 each or can consolidate them into on
8_murik_8 [283]

Answer:

C. No, it will increase cost by $100.

Explanation:

Z Corp. can make three individual deliveries to three different customers at a cost of $500 each

Given that:

Cost of shipment = $1300

Cost of each delivery = $500

Stop of charge = $100 per stop

Total cost if for individual delivery to three different customers = 3($500) = $1500

Since they are three different customers, the total stop charge = 3($100)

cost for consolidating them into one shipment= $1300 + 3($100) = $1300 + $300 = $1600

Therefore there is an increase in cost of $1600 - $1500 = $100

7 0
2 years ago
Read 2 more answers
A trading arrangement that eliminates most or all barriers to trade among participating nations and utilizes common barriers to
Katen [24]

Answer:

preferential trade agreement

Explanation:

This agreement is known as a preferential trade agreement. It is called this because it tends to make it easier for specific goods to be traded but only to the countries that are part of the group and/or agreement. This agreement also makes it harder for countries that are not part of the agreement to be able to trade with the countries that are in order to maintain the countries within the agreement trading with each other.

4 0
3 years ago
List the four steps in the response model for answering behavioral interview questions.
ad-work [718]
One technique in answering behavior interview questions is STAR where S makes for specific situation, T for task, A for action and R for result. SImple but efficient procedure
Thank you for your question. Please don't hesitate to ask in Brainly your queries. 
7 0
3 years ago
Read 2 more answers
Other questions:
  • Identify three economic activities that are replacing shifting cultivation
    10·1 answer
  • Total Variable Overhead Variance Mulliner Company showed the following information for the year: Standard variable overhead rate
    8·1 answer
  • A loan is a sum of money that is borrowed from a financial institution and then paid back in______
    6·2 answers
  • 2. Business and financial risk The impact of financial leverage on return on equity and earnings per share Consider the followin
    12·1 answer
  • Your company obtains a short term loan on September 1st, 2019 to cover costs to purchase inventory. The loan is for $50,000, the
    14·1 answer
  • Process A has fixed costs of $1000 and variable costs of $5 per unit. Process B has fixed costs of $500 and variable costs of $1
    6·1 answer
  • A​ 20% increase in sales causes EPS to rise from​ $4.00 to​$6.50. Assuming the firm has no​ debt, what is its degree of operatin
    12·1 answer
  • Improvised explosive devices (IEDs) are responsible for many deaths in times of strife and war. Unmanned ground vehicles (robots
    11·1 answer
  • Onyxo Inc., a consumer electronics company, is the leading manufacturer of LCD televisions. LCD technology has been its core com
    13·1 answer
  • If contracting parties attach materially different meanings to a contract word or term subject to more than one reasonable inter
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!