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3 years ago

The following expenditures relating to plant assets were made by Prather Company during the first 2 months of 2020.

Business

1 answer:

Nina [5.8K]3 years ago

8 0

Answer:

1) Tax Payable

2) Property Plant and Equipment Asset

3) Motor Vehicle Asset

4) Property Plant and Equipment Asset

5) Advertising and Promotion Expense

6) Property Plant and Equipment Asset

7) Insurance Prepaid Asset

8) Motor Vehicle Asset

The Historical Cost of Plant Asset consists of Actual Purchase price and all Incidental Cost required to bring the asset to the point of use .

Explanation:

1) Already Accrued

2) The insurance is required to bring in the machinery

3) Sales taxes on Fixed assets are capitalised

4) The improvement is necessary in material

5) Advertising Expense not necessary for the functioning of the delivery truck

6) Fixed Asset Purchase

7) Insurance Prepayment not necessary for the functioning of the delivery truck

8) The expense is necessary for the functioning of the delivery truck

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Explanation:

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The amount that Terry will deduct in 2020 will be $52000 which is the deduction for all expenses.

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In this case, he'll also deduct $52000 which is the deduction for all expenses.

c. Terry did not acquire the two hardware stores and was not in the hardware store business.

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3 years ago

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otez555 [7]

Car or vehicle should be the answer or try automotive transport

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3 years ago

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elena-14-01-66 [18.8K]

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3 years ago

The Brainchild is a store that specializes in educational toys for children. In order to increase the probability of customers v

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Answer: ADDING NEW BENEFITS.

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Benefits are free services or gifts given, Brainchild has increased the benefits of buying from its store by offering discounts, gift wrapping, and free shipping,all these will attract more customers to its store and hence increase loyal customers and number of customers.

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4 years ago

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4 years ago