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Amanda [17]
2 years ago
13

the list price of a computer was $100,000. the sales tax on the computer was 5%. the delivery cost was $1,000. the cost to assem

ble the computer was $500. the equipment account should be debited for a total of ______.
Business
1 answer:
Snowcat [4.5K]2 years ago
8 0

The equipment account should be debited for a total of $106,500.

Using this formula

Equipment account=List price+(Sales tax × List Price)+ Delivery cost+ Assemble cost

Where:

List price=$100,000

Sales tax=5%

Delivery cost=$1,000

Assemble cost=$500

Let plug in the formula

Equipment account=$100,000+(5%×$100,000)+$1,000+$500

Equipment account$100,000+$5,000+$1,000+$500

Equipment account=$106,500

Inconclusion the equipment account should be debited for a total of $106,500.

Learn more here:

brainly.com/question/20346970

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3 years ago
Hewlett and Martin are partners. Hewlett's capital balance in the partnership is $61,000. and Martin's capital balance $58,000.
gizmo_the_mogwai [7]

Answer:

The bonus hat is granted to Hewlett and Martin equals is $2340

Explanation:

Solution

Given that:

Hewlett's capital balance = $61,000

Martin's  capital balance = $58,000

The existing partners agrees ti accept black with =20% interest

Black invest the amount of =$35,600

Now,

The equity after admitting black or allowing black  is given below:

$61,000 + $58,000 +$35,600 = $154,600

The share of black in equity is given as,

$154, 600 * 20% = $30,920

The Bonus that is present  for Hewlett and Martin is = $35,600 - $30,920

=$4,680

Thus,

When shared equally it is = $2340 for both partners

5 0
3 years ago
The potential loss for a writer of a naked call option on a stock is Multiple Choice increasing when the stock price is decreasi
jok3333 [9.3K]

Answer:

The correct answer will be Option A (unlimited).

Explanation:

  • The potential loss which always relies on something like a potential occurrence happening or otherwise not happening. One such loss to such a writer's exposed put option on either a stock seems to be indefinite or unlimited.
  • Unless the loss becomes probable as well as the sum could be calculated, the damage including responsibility must be reported with either the journal entry.

Other available scenarios aren't connected to the situation in question. So alternative A, therefore, the perfect solution.

3 0
3 years ago
The development costs were incurred after technological and commercial feasibility was established and after the future economic
Anarel [89]

Complete Question:

Pribuss Engineering prepares its financial statements according to International Financial Reporting Standards. During 2018, the company incurred the following costs related to a new product design:

Research for New Design $2.4M

DVMPT of New Product $1.3M

Patent Filing Fees $52K

The development costs were incurred after technological and commercial feasibility was established and after the future economic benefits were deemed probable. The project was successfully completed and the new product was patented before the end of the 2018 fiscal year. What amount should Pribuss expense in its 2018 income statement related to the above expenditures?

Answer:

The Research expenses of $2.4M that are written as expense in the Income statement and the Development costs of $1.3M and patent legal fees of $53k are capitalized.

Explanation:

The reason is that the International Standard IAS 38 Intangible Assets says that the expenditure incurred on the research that hasn't entered development phase must be written as expense in the year and the expenditure incurred on the development phase of the research outcomes must be capitalized to the extent it is ready for use. In this case $1.3M is clearly a development cost and patent legal fees of $53k is the expenditure that will prepare the asset and making it ready for use, so it must also be capitalized.

8 0
3 years ago
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