Answer:
initial accounting cost of the machine = $32016
Explanation:
given data
Gross invoice price = $27,200
Sales tax = 1,760
Cash discount = 544
Freight = 960
Assembly of machine = 800
Installation of machine = 1,200
Repair of machine = 2,560
Tuning and adjusting machine = 640
to find out
initial accounting cost of the machine
solution
we get here initial accounting cost of the machine that is express as
initial accounting cost of the machine = Gross invoice price + Sales tax - Cash discount+ Freight+ Assembly of machine + Installation of machine + Tuning and adjusting machine ...................1
put here value we get
initial accounting cost of the machine = $27,200 + 1,760 - 544 + 960 + 800 + 1200 + 640
initial accounting cost of the machine = $32016
You would record the fair value.
While explaining the benefits of representation to a potential buyer, the buyer asks if he can get a good rate on a mortgage. The response should be "sorry, that's outside the scope of my expertise".
<h3>What are mortgage?</h3>
When you and a lender enter into a mortgage, the lender is granted the power to seize your property if you are unable to pay back the loan amount plus interest.
Mortgage loans are used to either purchase a home or borrow against an existing home's worth.
Some mortgage rights are-
- The mortgagee holds rights to the real estate collateral used to secure the loan in a mortgage.
- The lender is protected against default thanks to this.
- It also mandates that specific measures be established for the seizure of collateral assets in the event of default.
To know more about the collateral, here
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ROI as a financial ratio is calculated as follows:
ROI = Net profit/Total investments
In the current case,
Net profit = Net operating income = $700,000
Total investments = Operating assets = $600,000
After purchasing the new machine,
Total investments = 600,000*1.08 = $648,000
Therefore, the new ROI is;
ROI = 700,000/648,000 ≈ 1.08 = 108%
Answer:
The answer is: The COGS is $635
Explanation:
We will use the following entries:
- Initial merchandise inventory $210
- Purchased merchandise inventory $635
- Ending merchandise inventory $160
Cost of goods sold = initial inventory + purchases - ending inventory
Cost of goods sold = $210 + $635 - $160 = $685