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
lyudmila [28]
3 years ago
12

Southwest milling co. purchased a front end loader to move stacks of lumber. the loader had a list price of $117,270. the seller

agreed to allow 5.50 percent discount because southwest milling paid cash. delivery terms were FOB shipping point. Freight cost amounted to $2790. southwest milling had to hire a specialist to calibrate the loader. The specialist's fee was $990. The loader operator is paid an annual salary of $13,640. The cost of the company's theft insurance policy increased by $1,770 per year as a result of acquiring the loader. The loader had a four year useful life and an expected salvage value of $6,100.
a. Determine the amount to be capitalized in an assest accound for the purchase of the front end loader.
Business
1 answer:
Anastasy [175]3 years ago
6 0

Answer:

Total cost of front end loader in asset account $ 114,600

Explanation:

Computation of total costs of front end loader

List price of equipment                                                             $  117,270

Discount on cash payment = 5.5 %  ( $ 117,270 * 5.5 %)         <u>$ ( 6,450)</u>

Net price of equipment                                                             $ 110,820    

Freight in costs                                                                            $   2,790

Calibration costs                                                                         <u>$       990</u>

Total cost of front end loader in asset account                      $ 114,600

The other data items such as the loader salary and additional insurance

premium are annual costs and are thus not to be added to the cost of the equipment.  

You might be interested in
Ramanond Technologies is an independent business that facilitates foreign exchange trades. In the context of institutions that m
earnstyle [38]

Answer:

Fiscal investors.

Explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Basically, trade can be categorized into two (2) main groups and these are;

I. Import: this involves bringing in goods from a foreign country to sell in a different (domestic) country.

II. Export: it involves the sales of goods produced in a domestic country to a foreign country.

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

Under globalization, a fiscal investor refers to an independent business that facilitates or enhances foreign exchange trades between two or more countries.

This ultimately implies that, fiscal investors are institutions or business firms that make it possible for foreign exchange to take place with respect to the buying and selling of goods and services between countries.

8 0
3 years ago
On october 18th of 1980, _______________ checks out the beatles biography one day at a time from a honolulu public library. suff
Arada [10]
<span>On october 18th of 1980, <em>Mark David Chapman </em>checks out the beatles biography one day at a time from a honolulu public library. suffering from a mental illness for over a decade, he is thoroughly convinced that lennon is a hypocrite and a sell out and decides that he must kill lennon.</span>
8 0
3 years ago
Read 2 more answers
A firm can establish a sustainable competitive advantage over competitors if:
ELEN [110]

Answer:

it provides its customers benefits similar to its competitors but at a lower price

Explanation:

N/A

8 0
3 years ago
Most managers get very little uninterrupted time to work on their priority tasks.
Pavlova-9 [17]
True.

This is because managers are responsible for the overall performance of a branch and its personnel. Managers have people under their supervision and any problem that may arise in the course of a business day, they have to deal and solve in as little amount of time as possible.


8 0
4 years ago
Read 2 more answers
What differences and similarities exist between monopolistic competitive firms and perfect competitive firms?
astraxan [27]

Answer:

In perfect competition, the product offered is standardized whereas in monopolistic competition product differentiation is there. In monopolistic competition, every firm offers products at its own price. ... Entry and Exit are comparatively easy in perfect competition than in monopolistic competition.

Explanation:

(hope this helps)

4 0
3 years ago
Other questions:
  • What percentage of data would you predict would be between 40 and 70 and what percentage would you predict would be more than 70
    9·2 answers
  • Which of the following amounts to an offer? Ed says to Carmen, "I offer to sell you my pen for $1." Ed says to Carmen, "I’ll sel
    12·1 answer
  • The demand for a product is inelastic with respond to price if:<br> a.consumers are
    5·1 answer
  • Can someone try to sub to me on yt mine is Dgraves79Ex i did not make any viedos yet.
    11·2 answers
  • Some of the most common challenges of working on a team are:
    9·1 answer
  • An organization most important resource is its _ resources
    9·1 answer
  • One of the documents that help human resource planners find the right person for a specific job is a list of tasks and responsib
    13·1 answer
  • Which of the following statements is CORRECT? Assume that the project being considered has normal cash flows, with one outflow f
    12·1 answer
  • Fruitvale Company prepared the following income statement for 2018:
    14·1 answer
  • Roderigo has just finished paying back his $8,575 unsubsidized Stafford loan, which he took out to fund his four-year degree. Th
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!