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dolphi86 [110]
3 years ago
12

Wiley Company purchased new equipment for $60,000. Wiley paid cash for the equipment. Other costs associated with the equipment

were: transportation costs, $1,000; sales tax paid $3,000; and installation cost, $2,500. The cost recorded for the equipment was:
A. $60,000
B. $61,000
C. $64,000
D. $66,500
Business
1 answer:
user100 [1]3 years ago
4 0

Answer:

The cost recorded for the equipment=$66,500

Explanation:

When dealing with the total cost of an equipment we take the purchase cost and other additional associated costs that come with the equipment. This can be expressed as;

T=P+A

where;

T=total cost

P=purchase cost

A=additional costs(transportation cost+sales tax+installation cost)

In our case;

T=unknown

P=$60,000

A=(1,000+3,000+2,500)=$6,500

replacing;

T=60,000+6,500=66,500

The total cost=$66,500

The cost recorded for the equipment=$66,500

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Semmy [17]

Answer:

United States copyright office

Explanation:

hope this helps!

6 0
2 years ago
At December 31, 2011, Newman Engineering’s liabilities include the following:1. $10 million of 9% bonds were issued for $10 mill
Nadusha1986 [10]

Answer:

total long term debt: 24,000,000

Explanation:

the 1988 bonds will be long-term debt as there is no suggestion to the option to be exercised.

The 1978 bonds will be current liabilities as they matures at 2012

which is within the twelve months time period to be classified as current laibily.

the note payable has an agreement with the bank to not claim it at least until June 2012 The most probable reason is that the 1978 bonds are generating this situation, so once they are retired the normal 2 to 1  ratio will be acomplished, so the note payable will be kept at long term debt

but a note tothe financial statemtn should be made

Long term debt:

1988 bonds:   10,000,000

note payable  14,000,000

total                24,000,000

6 0
3 years ago
Starting at equilibrium point d, if the cost of inputs rises, the short-run equilibrium will move to point _____, and thus real
sweet-ann [11.9K]

Answer:

Starting at equilibrium point D, if the cost of inputs rises, the short-run equilibrium will move to the point B, and thus real output will Decrease and the price level will Increase.

Explanation:

This means it will go down but the price is gunna increase.

-<em>Hope This Helps!</em>

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8 0
2 years ago
Financial information is presented below: Operating expenses $ 45,000 Sales returns and allowances 4,000 Sales discounts 6,000 S
nikdorinn [45]

Answer:

$150,000

Explanation:

To calculate the net sales,

Sales Revenue

$160,000

Sales discount ($6,000)

Sales returns and allowances ($4,000)

Net sales $150,000

7 0
3 years ago
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The majority of nations have laws that forbid minors under the age of 18 from signing legally binding contracts. A minor who enters into a contractual contract has the legal right to choose whether or not to abide by its conditions. There are, however, a disproportionately large number of severe cases.

To learn more about agreement

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6 0
1 year ago
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