The purchase price of an asset plus the costs of operation.
Source: Investopedia
<span>Because
of a difference in values from American consumers, Germans have not been overly
receptive to installment debt to purchase products and services and the use of
credit cards such as visa or Mastercard. The German Schuld
which means debt also means guilt.</span>
Answer:
$4,271
Explanation:
IAS 2 requires that inventory be measured at the lower of cost or net realizable value. Since inventory is initially recognized at cost, where the cost is lower than the net realizable value (NRV), the cost is written down to the NRV.
Unit Cost per unit NRV Per unit adjusted cost Inventory amount
Minolta 5 167 164 164 820
Canon 8 134 156 134 1072
Vivitar 11 118 114 114 1254
Kodak 9 125 145 125 <u> 1125</u>
Total <u> 4,271</u>
Answer:
c. $400K
Explanation:
Given that
Offered price for sale = $350K
Asked price = $450K
Worth of the yacht determined by the purchaser = $375K
The Purchase value of yacht = $400K
By considering the historical cost principle, the yacht should be recorded at the purchase price or acquired price or original price i.e $400K in the purchase records so that the reliability of the books could be maintained