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Anit [1.1K]
3 years ago
11

Acquisition Cost of Long-Lived Asset The following data relate to a firm’s purchase of a machine used in the manufacture of its

product: Invoice price $34,000 Applicable sales tax 2,000 Cash discount taken for prompt payment 400 Freight paid 260 Cost of insurance coverage on machine while in transit 125 Installation costs 2,000 Testing and adjusting costs 475 Repair of damages to machine caused by the firm’s employees 750 Prepaid maintenance contract for first year of machine’s use 400 Determine the acquisition cost of the machine. Acquisition Cost
Business
1 answer:
klemol [59]3 years ago
6 0

Answer:

The acquisition cost is $38140

Explanation:

acquisiton cost = invoice price + applicable sales tax - cash discount + freight paid + cost of insurance + installation cost +testing and adjusting costt                

= $34000 + $2000 - $400 + $260 + $125 + $2000 + $425

= $38410

Therefore, The acquisition cost is $38140.

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Jerome Jones delivers pizza for Papa’s Pizza. He earns $7.80 an hour plus time-and-a-half for every hour over 40. Last week he w
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His net pay is $328.16.

The first step is to calculate Jerome’s salary.

Regular time - 40 x $7.80 = $312

Overtime - 5 x $7.80 x 1.5 = $58.50

Total Salary = $312 + 58.50 = $370.50

The next step is to calculate the deductions:

Social security = 370.50 x .062 = $22.97

Medicare = 370.50 x .0145 = $5.37

Federal Income Tax = $14

Total Deductions = 22.97 + 5.37 + 14 = $42.34

$370.50 - $42.34 = $328.16

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3 years ago
Which strategy is an effective way to manage risk? A. documenting and sharing risk management procedures B. renouncing changes i
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Answer:

A

Explanation:

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When is humor beneficial to a team?
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humor is beneficial to a team because you can use it to lighten up the mood

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Can someone please help me
Andrew [12]

Answer:

Technology

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2. Web Developer.

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A portfolio has three stocks 110 shares of Yahoo (YHOO), 210 Shares of General Motors(GM), and 70 shares of Standard and Poorʹs
kobusy [5.1K]

Answer:

Option (D) is correct.

Explanation:

Value of Yahoo:

= Shares × Price

= 110 shares × $20

= $2,200

Value of General Motors(GM):

= Shares × Price

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= $4,200

Value of Standard and Poorʹs Index Fund (SPY):

= Shares × Price

= 70 shares × $130

= $9,100

Total value = Value of Yahoo + Value of GM + Value of SPY

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= Value of YAHOO ÷ Total value

= $2,200 ÷  $15,500

= 0.1419 or 14.19%

Portfolio weight of GM:

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