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mezya [45]
3 years ago
13

Beerbo purchased a machine on July 1, 2021 for $28,000. Beerbo also paid $200 in title fees; $125 in taxes; $500 in delivery cha

rges; and $475 in installation costs. The machine has an estimated useful life of 6 years and a salvage value of $3,000. What is the total cost that is debited to the MACHINE account
Business
1 answer:
Dahasolnce [82]3 years ago
8 0

Answer:

$29,100

Explanation:

The cost of an asset which needs to be capitalised is the sum of all costs needed to make the asset usable, it includes purchase price, taxes, installation costs etc.

According to given question following balances will be capitalised in the MACHINE account.

Price                      $28,000

Title fee                 $125

Taxes                     $500

Delivery charges  <u>$475      </u>

Total cost              <u>$29,100</u>

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Junkman Autos uses a separate checking account to pay their employees. The gross pay for the period was $1,000. However, after d
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Answer:

journal entry are given below

Explanation:

given data

gross pay for the period = $1,000

net pay for the period =  $820

to find out

journal entry to record the issuance of payroll checks

solution

journal entry are as

Account Name                       Debit                      Credit

Labor Expenses                        $1000

payroll taxes Payable                                                  $820

Net Payroll Payable                                                     $180

( $1000 - $820 )

6 0
3 years ago
Which of the following statements is true?
marissa [1.9K]

Answer: B) A)

Explanation:

  •   This kind of method, direct write-off method is referring to your question and it is considering a method that is used for recognizing bad debts expenses that are coming from credit sales of someone's account. With this method there is no account that is considering allowance and receivable that is found on someones's account is written-off directly to expense when there is uncollectible account expense.
  •   One of the greatest advantages is simplicity because those companies who are doing this method have to make only two transactions.

5 0
4 years ago
Read 2 more answers
2. Which of the following is an example of the globalization of production? a. Pepsico sells the same brand of pringles in multi
Katen [24]

Answer: Ford manufactures a car in Michigan, but uses parts sourced from 27 countries

Explanation:

Globalization is the process by which businesses or organizations develop international influence or a situation whereby they start operating on international scale.

Globalization of production has to do with the producers of final finished goods relocating and moving to other parts of the world in order to source for the necessary raw materials or equipments needed to complete a product and assemble all of them at their facility.

Based on this definition, Ford manufactures a car in Michigan, but uses parts sourced from 27 countries is the right answer.

8 0
3 years ago
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Which type of data do researchers collect the personal interviews?
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Answer:

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Explanation:

  • Face-to-face surveys or interviews are an important way of gathering information used throughout survey methodology.
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7 0
3 years ago
Spears Co. had net sales of $53,404 million. Its average total assets for the period were $16,302 million. Spears' total asset t
liraira [26]
Given:
net sales = 53,404,000,000
Average total assets = 16,302,000,000

Total asset turnover is calculated by divided net sales by the average total assets.

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3 years ago
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