A transport company purchased a truck for RO 35, 000 to be used in the business. The manager estimates the value of the truck to be RO 45,000 in the market. If the Business follows Historical Cost concept, the amount to be recorded for the truck is O a. RO 41,000 O b. RO 26,000 RO 35,000
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- Ngo Company purchased a truck for $54,000. Sales tax amounted to $5,400; shipping costs amounted to $1,200; and one-year registration of the truck was $100. What is the total amount of costs that should be capitalized? A. $60,600 B. $66,100 C. $54,000 D. $59,400Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase: Purchase price $4,500,000 Cost to bring boat to production facility $25,000 Yearly insurance cost $25,000 Annual maintenance cost of $30,000 Received 8% discount on sales price Determine the acquisition cost of the boat, and record the journal entry needed.A transport company purchased a truck for RO 35, 000 to be used in the business. The manager estimates the value of the truck to be RO 45,000 in the market. If the Business follows Historical Cost concept, the amount to be recorded for the truck is a. RO 1,000 b. RO 35,000 c. RO 26,000 d. RO 41,000
- Al Meedaniyah Company business purchased a machine for RO 25,000. The manager estimates the value of the machine to be RO 26000 in the market. If the Business follows Historical Cost concept, the amount to be recorded for Machine is a. RO 5000 b. RO 25,000 c. RO 26,000 d. RO 1,000Ace Lumber Co. purchased a truck and had the following outlays. How much is the cost of the truck? purchase price $ 40,000 sales tax 3,200 preparation and delivery 900 insurance during delivery 325 insurance after delivery 1,200 cost of the truck ? ________________________________Stilton Ltd purchases a new delivery truck for $80,000 . The logo of the company is painted on the side of the truck for $1,000 . The truck registration is $500 , and a 12 -month accident insurance policy is $1,500 . The truck undergoes safety testing for $660 . What does Stilton Ltd record as the cost of the new truck? Select one: a. $81,660 . b. $80,000 . c. $83,060 . d. $81,000
- W bought a new printing machine. The cost of the machine was $80,000. The installation costs were $5,000 and the employees received training on how to use the machine, at a cost of $2,000. Before using the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position? A $80,000 B $85,000 C $86,000 D $88,000W bought a new printing machine. The cost of the machine was $80,000. The installation costs were $5,000 and the employees received training on how to use the machine, at a cost of $2,000. Before using the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?Honda Fit Ltd purchased a new piece of machinery to expand the production output of its top-of-the-line car model. The marginal income ratio is 64% and the company has R3 200 000 as fixed costs. After the machine was purchased, the company achieved a sales revenue of R5 600 000. Determine the company’s margin of safety in percentage terms and comment.
- Lanier Company recently purchased a truck. The price negotiated with the dealer was $40,000. Lanier also paid sales tax of $2,000 on the purchase, shipping and preparation costs of $3,000, and insurance for the first year of operation of $4,000. At what amount should the truck be recorded on the balance sheet? Group of answer choices A)$49,000 B)$42,000 C)$43,000 D)$45,000 E)None of the aboveW bought a new printing machine from abroad. The cost of the machine was $80,000. The installation costs were $5,000 and the employees received specific training on how to use this particular machine, at a cost of $2,000. Before using the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?2 Harper Company had the following two transactions related to its delivery truck. What cost should be added to the delivery truck account? 1.Paid $38 for an oil change. 2.Paid $800 to install special shelving units, which increase the operating efficiency of the truck.