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Andrews [41]
3 years ago
5

Granite Company purchased a machine costing $128,000, terms 3/10, n/30. The machine was shipped FOB shipping point and freight c

harges were $2,800. The machine requires special mounting and wiring connections costing $10,800. When installing the machine, $2,300 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period.
Business
1 answer:
Alborosie3 years ago
8 0

Answer:

machine enter the accounting at <em> 138,210 dollars</em>

Explanation:

cost: 128,000 x ( 1 - 3%) = 124,610

shipping cost:                      2,800

installation cost:              <u>   10,800   </u>

total incurred cost

to leave the machine

ready for use:             <em>    138,210</em>

<em />

<em>The damge are expenses for the period as they arent a necessary cost to utilize the machine.</em>

<em>The company used the discount price over the list price as this is the atual cost incurred</em>

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Answer:

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Explanation:

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6 0
3 years ago
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A house is sold for $105,500 and the commission rate is 6 percent. If the commission is split 60/40 between the selling broker a
laila [671]

Answer: The answer is $ 1266.

Explanation: If the commission rate is 6%

The commission is = 105500. 0.06 = 6330

40% is for the listing broker = 6330. 0.4 = 2532

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The listing salesperson receive from this sale $ 1266.

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3 years ago
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4 0
3 years ago
You want to be a millionaire when you retire in 40 years.
Sedaia [141]

Answer:

a. FV = $1,000,000

rate = 9.7%

n = 40 periods

FVIFA = [(1 + 0.097)⁴⁰ - 1] / 0.097 = 407.9960231

annual savings = $1,000,000 / 407.9960231 = $2,451.00

b. FV = $1,000,000

rate = 9.7%

n = 30 periods

FVIFA = [(1 + 0.097)³⁰ - 1] / 0.097 = 155.4306295

annual savings = $1,000,000 / 155.4306295 = $6,433.74

FV = $1,000,000

rate = 9.7%

n = 20 periods

FVIFA = [(1 + 0.097)²⁰ - 1] / 0.097 = 55.35978429

annual savings = $1,000,000 / 55.35978429 = $18,063.65

7 0
3 years ago
The market has an expected rate of return of 12.6 percent. The long-term government bond is expected to yield 5.8 percent and th
natulia [17]

Answer:

The market risk premium is 9.3%

Explanation:

Market risk premium can be obtained by calculating the difference between the expected return on the market and the risk-free rate.

In the question given, the risk rate fee refers to the US treasury bill.

Therefore,

Market risk premium = market rate-risk free rate

= (12.6% - 3.3%)

= 9.3%

So, in the question given, the market risk premium is

9.3%

5 0
4 years ago
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