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An initial cost of an item in PPE includes:
subsequent expenses
purchase price
administrative expenses
salvage value
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Solved in 2 steps
- The possible answers for option D are:Cost of Goods SoldDepreciation ExpenseEarned RevenueIncome Tax ExpenseInsurance ExpenseInterest ExpenseSupplies ExpenseWage ExpenseNet Operating Income (-) Interest Expense (-) Cost Recovery Allowance (=) _________________ (or) NOI (minus) Interest Expense (minus) Cost Recovery Allowance (equals) ___________________ Group of answer choicesMark up can be calculated by the formula; a. Markup = Cost + Expenses b. Markup = Cost + Profit c. Markup = Selling price + Cost d. Markup = Expenses + Profit
- In a restated set of financial statements prepared in accordance with the current cost accounting, how much would appear as Unrealized holding gain?Explain the following basic principles in cost management:a. profitsb. life cycle costsc. tangible cost and benefitsd. intangible costs and benefitse. direct and indirect costsf. reservesCarrying amounts in a GAAP balance sheet are measured using all the following except: Multiple Choice historical cost. net realizable value. discounted present value. projected ROI.