1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lesantik [10]
3 years ago
11

Yale Company purchased equipment having an invoice price of $21,500. The terms of sale were 2/10, n/30, and Yale paid within the

discount period. In addition, Yale paid a $320 delivery charge, $350 installation charge, and $1,183 sales tax. The amount recorded as the cost of this equipment is:
Select one:
a. $21,070.
b. $21,500.
c. $21,740.
d. $22,923.
Business
1 answer:
Reptile [31]3 years ago
3 0

Answer:

Correct option is D

$ 22,923

Explanation:

According to International Accounting standards (IAS) 16 property plan and equipment (PPE), the cost of an asset is the purchase cost plus other costs of bringing it to the intended working conditions.

So we will add the purchase cost to the cost of delivery, tax and installation.

The purchase cost less discount = (100-2)% × 21,500= $21,070

The cost of the equipment =  $21,070 + 320 + 350 + 1183

                                             =$ 22,923

You might be interested in
Marigold’s Pest Control Products has the following information available: net income, $15800; cash provided by operations, $2170
tester [92]

Answer:

The Maigold's free cash flow can be calculated using the below formula:

Cash Provided by Operations-Capital expenditure-Dividends paid

Explanation:

Cash provided by operations   $21700

Capital expenditure                  ($10100)

Dividends paid                          ($3500)

Free cash flow of Maigold's     $8100

8 0
3 years ago
Consider the following scenarios:
Oliga [24]
Scenario 2 would be correct
7 0
3 years ago
When businesses collect demographic information on where people live, what they buy, and how they spend their time, they are res
snow_tiger [21]

Answer:

Social environment.

Explanation:

When businesses collect demographic information on where people live, what they buy, and how they spend their time, they are responding to the social environment. The social environment comprises of values, beliefs, practices, customs and behaviors of a group of people living together in a society and how their actions influence their surroundings or environment.

Demographics can be defined as the study and analysis of the characteristics of a population based on pre-defined factors such as education, race, income, sex or gender, and age.

Additionally, businesses gather, analyze and use demographic informations about people in the target market so as to have a competitive edge or advantage and to help build a strong relationship.

7 0
4 years ago
Can anyone help plz?
Ulleksa [173]

Explanation:

this is easy to understand and even to answer so if I tell u the answer

how will u learn to do things yourself. By me being a business Woman i learn't that in order to gain sumthing in life u have to do it yourself

7 0
3 years ago
Give an example of 3 wants of businesses and describe WHY they are wants
Lemur [1.5K]
A want is something which we would like but do not need to survive. Humans have five basic needs: food, water, shelter, warmth, and clothing. ... Products are launched to fulfill the needs and wants of the consumers in the business's target market. A market is defined as a place where buyers and sellers meet.
7 0
3 years ago
Other questions:
  • Gugenheim, Inc., has a bond outstanding with a coupon rate of 5.7 percent and annual payments. The yield to maturity is 6.9 perc
    15·1 answer
  • The tools, skills, organization, and knowledge used to extract energy from nature are the
    8·1 answer
  • Hueblue software, an application provider to the gaming industry, decided to enhance its portfolio by developing motion-control-
    10·1 answer
  • What do you think the challenges are for working with team members from around the world?
    14·1 answer
  • If a real estate developer were speaking to a group of citizens opposed to the creation of a shopping center in their neighborho
    11·2 answers
  • which of the following describes an important difference between general partnership and limited partnerships
    12·2 answers
  • is personally responsible for all partnership debts. has no say over a firm's daily operations. faces double taxation whereas a
    5·1 answer
  • What impact is Walmart’s acquisition of nontraditional retailers likely to have on the shopping habits of Walmart’s customers?​
    6·1 answer
  • This chapter discusses many types of costs: opportunity cost, explicit costs, fixed cost, variable cost, average fixed cost, and
    5·1 answer
  • Tyrone Northrup pays monthly rent of $1,240 for a one-bedroom apartment in a large city. He pays an extra monthly charge of $160
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!