Business, 20.12.2019 19:31 imaniii88

Hunt company purchased factory equipment with an invoice price of $90,000 on jan 1. other costs incurred were freight costs, $1,100; installation wiring and foundation, $2,200; material and labor costs in testing equipment, $700; oil lubricants and supplies to be used with equipment, $500; fire insurance policy covering equipment, $1,400. the equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life. instructions
(a) compute the acquisition cost of the equipment. clearly identify each element of cost.
(b) if the double-declining-balance method of depreciation was used, show the journal entry to record depreciation expense for the first fiscal year on dec.31.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 14:30

United continental holdings, inc., (ual), operates passenger service throughout the world. the following data (in millions) were adapted from a recent financial statement of united. sales (revenue) $38,901 average property, plant, and equipment 17,219 average intangible assets 8,883 1. compute the asset turnover. round your answer to two decimal places.

Answers: 2

Answer

Business, 22.06.2019 19:40

Chang corp. has $375,000 of assets, and it uses only common equity capital (zero debt). its sales for the last year were $595,000, and its net income was $25,000. stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15.0%. what profit margin would the firm need in order to achieve the 15% roe, holding everything else constant? a. 9.45%b. 9.93%c. 10.42%d. 10.94%e. 11.49%

Answers: 2

Answer

Business, 23.06.2019 02:30

When the price of pencils increases from $1.50 to $2.50, there is an increase in quantity demanded of pens from 100 to 150. the cross-price elasticity of demand between pencils and pens is: ?

Answers: 3

Answer

Business, 23.06.2019 11:00

Which of the following makes a true statement about the relationship between government and financial institutions? government and financial institutions do not interact with each other. financial institutions like the u.s. treasury must approve increases in the government deficit. government can pass laws to limit what financial institutions can charge in interest and fees. financial institutions like local banks must approve interest rates set by the federal reserve.

Answers: 2

Answer

You know the right answer?

Hunt company purchased factory equipment with an invoice price of $90,000 on jan 1. other costs incu...

Questions