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Brrunno [24]
3 years ago
15

Which if the following would be debited to the equipment account

Business
2 answers:
Minchanka [31]3 years ago
7 0

Answer:

The correct Choice is: B. In-transit insurance costs

Explanation:

The cost of machinery and equipment includes: • Purchase price (less any discounts) • Transportation (delivery) charges • Insurance while in transit • Sales and other taxes • Purchase commission • Installation costs • Cost of testing the asset before it is used After the asset is up and running, the company no longer debits insurance, taxes, and maintenance costs to the Equipment account. From that point on, insurance, taxes, repairs, and maintenance costs are recorded as expenses. (Financial Accounting, Kemp).

kozerog [31]3 years ago
4 0
I think the answer is a

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Red Co. acquired 100% of Green, Inc. on January 1, 2012. On that date, Green had inventory with a book value of $42,000 and a fa
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Choose the correct answer and rationale. “The prices listed on retail websites...”
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Assume that a parent company owns a 100% controlling interest in its long-held subsidiary. On December 31, 2013, a parent compan
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Answer:

Related to the transferred equipment, the items that is true regarding the preparation of the consolidated financial statements for the year ending December 31, 2013 is:

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