Delibird company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the units List price 152,000 Trade discounts and rebates taken 56,000 installation and assembly cost 3,200 initial delivery and handling cost 6,400 purchase discount 2% what is the acquisition cost of the new computer?

Delibird company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the units List price 152,000 Trade discounts and rebates taken 56,000 installation and assembly cost 3,200 initial delivery and handling cost 6,400 purchase discount 2% what is the acquisition cost of the new computer?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 9EA: Santa Rosa recently purchased a new boat to help ship product overseas. The following information is...

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Don Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List price- P304,000 Trade discount and rebates taken- P112,000 Installation and assembly cost- P6,400 Initial delivery and handling cost- P12,800 Purchase discount- 2% What is the acquisition cost of the new computer?
DELIBIRD Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List price P152,000 Trade discounts and rebates taken 56,000 Installation and assembly cost 3,200 Initial delivery and handling cost 6,400 Purchase discount 2% What is the acquisition cost of the new computer? 105,680 94,080 103,680 160,600
Broed Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List price P152,000 Trade discounts and rebates taken 56,000 Installation and assembly cost 3,200 Initial delivery and handling cost 6,400 Purchase discount 2% What is the acquisition cost of the new computer? a. 94,080 b. 103,680 c. 160,600 d. 105,680
The acquisition of a used machine with a purchase price of $77,000, requiring an overhaul costing $8,000, installation costs of $5,000, and special acquisition fees of $3,000 would be journalized with a debit to the asset account for?
Santa Rosa recentiy purchased a new boat to help ship product overseas. The following information is related to that purchase: Purchase price $4,100,000 Cost to bring boat to production facility $29,000 Yearly insurance cost $29,000 Annual maintenance cost of $40,000 Received 6% discount on sales price A. Determine the acquisition cost of the boat. $ 4,375,000 X Feedback Check My Work Remember that any costs incurred in the process of acquiring an asset and making it ready for its intended use can be capitalized as part of the value of the asset. Any other costs that maintain the asset during its use are standard expenses (not capitalized). B. Record the journal entry needed. If an amount box does not require an entry, leave it blank. Вoat 4,375,000 X Cash 4,375,000 X
Ronson 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 $15,000 yearly insurance cost $12,000 pays annual maintenance cost of $22,000 received a 10% discount on sales price Determine the acquisition cost of the boat and record the journal entry needed.
Santa 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.
The following data relate to a firm's purchase of a machine used in the manufacture of its product: Invoice price $20,000 Applicable sales tax Cash discount taken for prompt payment 1,200 400 Freight paid 260 Cost of insurance coverage on machine while in transit 125 Installation costs 1,000 Testing and adjusting costs 475 Repair of damages to machine caused by the firm's employees 550 Prepaid maintenance contract for first year of machine's use 300 Determine the acquisition cost of the machine. $ 23,510
Trinkle Company, Incorporated made several purchases of long-term assets in Year 1. The details of each purchase are presented here. New Office Equipment List price: $36,100; terms: 2/10 n/30; paid within discount period. Transportation-in: $740. Installation: $580. Cost to repair damage during unloading: $615. Routine maintenance cost after six months: $260. Basket Purchase of Copier, Computer, and Scanner for $51,900 with Fair Market Values Copier, $22,500. Computer, $11,250. Scanner, $28,750. Land for New Warehouse with an Old Building Torn Down Purchase price, $75,700. Demolition of building, $5,070. Lumber sold from old building, $1,090. Grading in preparation for new building, $8,000 Construction of New Building Construction of new building, $231,000 RequiredIn case of office equipment, determine the amount of cost to be capitalized in the asset accounts. In case of basket purchase, determine the amount of cost to be capitalized in the asset accounts. In case of land,…
Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase: Purchase price $840,000 Cost to bring boat to production facility $25,000 Yearly insurance cost $3,600 ·Annual maintenance cost of $12,000 Cost to make the boat handicap accessible $9,000 Received 8% discount on sales price Determine the acquisition cost of the boat, and record the journal entry needed.
Enterprises acquired three different pieces of furniture and equipment for its newly renovated office. The bulk purchase from Wonder Technologies, Inc. included the following assets and corresponding retail prices: office furniture,$1,800; an integrated telephone system, $3,700; and a desktop computer system, $4,500. Wonder charged a bulk price of $6,000. Requirement: Determine the value assigned to each asset. Asset Type Value Assigned to Each Asset Office Furniture Telephone System Computer Equipment Total
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