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
agasfer [191]
3 years ago
13

Rizio Co. purchases a machine for $12,500, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took

the $250 discount. Transportation costs of $360 were paid by Rizio. The machine required mounting and power connections costing $895. Another $475 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $180 worth of repairs were made. In moving the machine to its steel mounting, $180 in damages occurred. Also, $40 of materials is used in adjusting the machine to produce a satisfactory product. The adjustments are normal for this machine and are not the result of the damages. Compute the cost recorded for this machine. (Rizio pays for this machine within the cash discount period.)
Business
1 answer:
ollegr [7]3 years ago
6 0

Answer:

Cost recorded for this machine = $14,240

Explanation:

Particulars                                       Amount

Invoice Price                                   $12,500

Less: Cash Discount                       <u>$250</u> (12,500*2%)

Net Purchase Price                        $12,250

Add: Transportation Costs             $360

Add: Power Connections               $895

Add: Assemble Cost                       $475

Add: Material used                   $40

Add: Repair                                      $180

Add: Material used in adjusting      <u>$40      </u>

Amount to be capitalized              <u>$14,240 </u>

Note: <em>The repair cost is included because it is incurred before machine is put in operation.</em>

You might be interested in
What is the definition of gambling
Montano1993 [528]
To bet , play games for money , risky . 
3 0
3 years ago
Which type of business is owned by a small pool of investors?
skelet666 [1.2K]

A limited partnership is owned by a small pool of investors; if there is only one owner, then it is a sole proprietorship.

5 0
3 years ago
What is the name for the process of paying attention to important properties while ignoring nonessential details?
sweet [91]

Answer:

Abstraction

Explanation:

Abstraction can be defined as the doing way of some details that are not too necessary so that the main subject or features have maximum attention.

absstraction is very important in the aspect of object oriented programming

It should be noted that the process of paying attention to important properties while ignoring nonessential details is Abstraction.

5 0
4 years ago
At the end of a shift, the sales clerk turned over $21,476.38 in cash, checks, and credit card receipts to the cashier. when the
coldgirl [10]
In this situation, the company should Enter a debit of $1.85 in the Cash Over and Short account. 
By doing this, the amount of difference will be covered on the adjustment that made on the account and the calculation for the net profit and cash flows will be back to the correct value,
8 0
3 years ago
How Do Earthquakes Form Will Give Brainliest
densk [106]

Answer:

Earthquakes happen when the boundaries of the Earth's tectonic plates bump and slide past one another; sometimes, they get stuck on jagged edges and cause earthquakes once they are released. These earthquakes are always followed by aftershocks starting from the same epicenter.

Explanation:

The Earth's four main layers are the inner core, outer core, mantle and crust. The crust and the mantle make up a "skin" on the outside of the planet, but is not made of a single piece. The pieces of the mantle and crust are called tectonic plates with the outer edges of each of them called plate boundaries. The section where two plates meet and move is called a fault. As each of the plate boundaries get caught on each other, the rest of the tectonic plate keeps moving and energy begins to store at the point of friction.

When the energy overcomes the friction caused, all of the energy is released and radiates from the epicenter. These waves of energy are called seismic waves and ripple like water on a pond when a stone is dropped in. They often reach the surface of the planet where everything starts to shake. This is why cities or towns that are located near faults are more likely to feel earthquakes than those in the center of a tectonic plate.

4 0
3 years ago
Other questions:
  • Where would an ecologist be least likely to go to study primary succession?
    13·1 answer
  • The section of his business plan in which Jones sets forth the purpose of his cabinet-making business-its reason for existing-is
    12·1 answer
  • Two mutually exclusive alternatives are being considered.
    15·1 answer
  • Onslow Co. purchases a used machine for $192,000 cash on January 2 and readies it for use the next day at an $8,000 cost. On Jan
    13·1 answer
  • The ________ is a form of business organization that is rapidly gaining popularity in the United States. The concept originated
    14·1 answer
  • Sharon knew that her established customers liked her product much better than the competitors. She was planning to expand into n
    9·2 answers
  • Contribution Margin Variance, Contribution Margin Volume Variance, Market Share Variance, Market Size Variance Sulert, Inc., pro
    10·1 answer
  • The only way to establish a cause-and-effect relationship between two variables is to conduct a(n) ________. experiment
    7·1 answer
  • If real GDP is $150 billion, full employment GDP is $600 billion, and the marginal propensity to consume is 0.8, then Congress s
    12·1 answer
  • 2. An A firm has sales of $10 million, variable costs of $4 million, fixed expenses of $1.5 million, interest costs of $2 millio
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!