What rule did Michael Jordan break by wearing Air Jordans out onto the basketball court?

Watauga Company purchased equipment on July 1, 2017 for $70,000. Sales tax on the purchase was $700. Other costs incurred were f

andriy [413]

Answer:

$72,700

Explanation:

Data provided in the question:

Purchasing cost = $70,000

Sales tax = $700

Freight charges = $800

Shipping charges = $150

Repair charges = $1,300

Installation cost = $1,050

Now,

Cost of the equipment

= Purchasing cost + Sales tax + Freight charges + Shipping charges + Installation cost

= $70,000 + $700 + $800 + $150 + $1,050

= $72,700

Note: Repair cost is not included in the cost.

5 0

3 years ago

In an economy, the government wants to increase aggregate demand by $50 billion at each price level to increase real GDP and red

Tems11 [23]

Answer:

(B) $20 billion

Explanation:

Given a certain level of MPC, an increase in government spending (G) by a certain amount translates to an increase in aggregate demand (AD) through the relationship below.

$ΔAD = \frac{ΔG}{1 - MPC}$

where Δ means <em>change.</em>

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Therefore, given ΔAD of $50 billion, and MPC of 0.6,

$ΔAD = \frac{ΔG}{1 - MPC}$

= $50 = \frac{ΔG}{1 - 0.6}$

= $50 = \frac{ΔG}{0.4}$

= ΔG = 50 * 0.4 = 20

Therefore, increase in government purchases = $20 billion.

3 0

3 years ago

a consumers goal in buying a good or service is to get the most out of his or her income, or to maximize total utility. this is

PilotLPTM [1.2K]

Surving in the new age world

3 0

3 years ago

Select two skills and two personal values that you feel you have to offer in the workplace. Discuss the importance of these skil

klemol [59]

For me the two personal values its to bring Sarcastic Humor to the work place and Value to make hard descisions. Why are these things inportant? Well because If you bring comedy it boosts moral in the office and the ability to make hard desicions is useful to get a higher postion in your job.

6 0

2 years ago

On January 1, 20X1, Beard Company purchased a machine for $620,000. The machine is expected to have a 10-year life, with no salv

Vinil7 [7]

Answer:

1. Why is this an operating lease for Child Company?

The life of the asset is 10 years while the lease is only 3 years long, so it cannot be classified as a financial lease.

2. What are the amounts of the right-of-use asset and lease liability that Child Company should report on its balance sheet at December 31, 20X1?

annual lease payment = $128,000 (ordinary annuity)

PVIFA, 9%, 3 periods = 2.5313

present value = $128,000 x 2.5313 = $324,006.40

3. How much lease expense should Child Company recognize in 20X1?

lease expense = PV of lease x interest rate = $324,006.40 x 9% = $29,160.58

6 0

2 years ago