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Alexxx [7]
3 years ago
11

A company purchased a commercial dishwasher by paying cash of $4,900. The dishwasher's fair value on the date of the purchase wa

s $5,270. The company incurred $390 in transportation costs, $260 installation fees, and paid a $110 fine for illegal parking while the dishwasher was being delivered. For what amount will the company record the dishwasher
Business
1 answer:
Dafna11 [192]3 years ago
7 0

Answer: $5550

Explanation:

The amount that the company will record the dishwasher will be the amount the dishwasher was bought plus the transportation cost incurred on the dishwasher plus the installation fees. This will be:

= $4900 + $390 + $260

= $5550

Therefore, the amount that the company will record for the dishwasher is $5550

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<em>To arrive at the net income, cost of goods sold is usually deducted from the sales revenue. An cost of sold is determined by subtracting the value of inventory. So an understated inventory would mean an overstated </em><em>cost of goods sold </em><em>and </em><em>understated net income</em>

<em>Correct net income = 90,000 + 7,000</em>

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As a contemporary manager, your employees will perceive that their opinions are more valued if:
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San Ruiz Interiors provides design services to residential and commercial clients. The residential services produce a contributi
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