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zimovet [89]
3 years ago
7

Tamarisk, Inc. incurs the following expenditures in purchasing a truck: cash price $42,000, accident insurance $2,900, sales tax

es $2,700, motor vehicle license $100, and painting and lettering $400. What is the cost of the truck
Business
1 answer:
AURORKA [14]3 years ago
6 0

Answer:

$44,700

Explanation:

The cost of the truck according to IAS 16 under IFRS would only include any cost incurred in bringing the asset to as location or state where it becomes available for use.

Given cost items;

cash price = $42,000

Accident insurance = $2,900

Sales taxes = $2,700

Motor vehicle license = $100

Painting and lettering = $400

From all the cost items stated above, the cost of the truck

= $42,000 + $2,700

= $44,700

Other cost elements will be expensed.

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Lyman’s business has grown to 400 employees with annual revenues of $15 million. He would like to expand further but needs anoth
muminat
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Your brother, who is prone to bearing substantial risk, suggests that you buy a security for $10,000 that promises to pay you $1
astraxan [27]

Answer:

16.59%

Explanation:

First we look at the formula which to determine the future value of the security and then work back to determine the annual return in terms of percentage

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where i = the annual rate of return

n= number of years or period

We then plug the given figures into the equation as follows

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On August 1, 20Y1, Newhouse Co. received $39,110 for the rent of land for 12 months. Journalize the adjusting entry required for
Marta_Voda [28]

The adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.

<h3 /><h3>Unearned rent</h3>

Based on the information given the appropriate adjusting entry required for unearned rent on December 31, 20Y1 is:

31 December

Debit Unearned rental revenue $16,296

Credit Rental revenue $16,296

($39,110×5/12)

(To record unearned rent)

Inconclusion the adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.

Learn more about unearned rent here:brainly.com/question/4260123

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