Kegler Bowling buys scorekeeping equipment with an invoice cost of $190,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,850. What is the total recorded cost of the scorekeeping equipment?

Q: Carley Company purchases a new delivery truck for $45,000. The sales taxes are $3,000. The logo of…

A: Capital expenditure: It is the cost acquired from fixed assets. It includes of cost of purchase and…

Q: Voiture Company manufactures compact, energy-efficient cars. On April 1, it purchased a machine for…

A: Financial statements that describe the operations and financial performance of a company. Financial…

Q: Rizio Company purchases a machine for $13,600, terms 2/10, n/60, FOB shipping point. Rizio paid…

A: Computation of cost recorded for this machine:   Amount Invoice price of machine $ 13,600…

Q: Jorgea Company sold office equipment that had a book value of $12,000 for $16,000. The office…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: W bought a new printing machine from abroad. The cost of the machine was $80,000. The installation…

A: We have the following information: Cost of the machine: $80,000 Installation costs: $5,000 Training…

Q: Sheridan Corporation acquired new equipment at a cost of $109,000 plus 7% provincial sales tax and…

A: Capitalized cost is the cost which is recognized as the fixed asset part, instead of being charged…

Q: A commercial company bought 250 units of a certain material at a price of 50,000 dinars per unit,…

A: calculation the cost of the material purchased Particulars Amounts Purchase price of material…

Q: Dorothea Company acquired several fixtures for its new building, including display cases, shelves…

A: The Company acquired several fixtures for its new building, including display cases, shelves and…

Q: An air-conditioning contractor is installing a heat pump system in a privatehome. He has agreed to…

A: Costs which are directly traceable to the cost object are known as direct costs.

Q: HP Company purchased equipment on January 1 at a list price of $127,000, with credit terms 2/10,…

A: Equipment cost includes all cost such as - installation charges , slab rate charge , taxes etc.…

Q: The Miller Company paid $10,000 to acquire a 100 ton press.  Freight charges to deliver the…

A: Total amount should be capitalized = Original Cost + Freight + Installation cost + Machine testing

Q: A company incurred the following costs for a new delivery truck: Purchase price   $148,000 Sales…

A: Cost of asset is the amount at which the asset is bought by the entity from the market. It, not only…

Q: The accountant at industrial system Incorporated (ISI) decided to depriciate some new production…

A: The question is related to Cost of Asset and Depreciation Accounting. The company purchased three…

Q: Hummer Company purchased a delivery truck. The total cash payment was $30,000, including the…

A:

Q: Ngo Company purchased a truck for $54,000. Sales tax amounted to $5,400; shipping costs amounted to…

A: Costs to be capitalised are total costs incurred on acquisition or purchase of fixed assets and all…

Q: Stellar Inc. sells an irrigation system that cost $184,000 to McGraw Company for $365,000 on March…

A: The question is based on the concept of Financial Accounting.

Q: Adama Company incurred the following costs. Indicate to which account Adama would debit each of the…

A: Cost / expenses which are directly related to the fixed asset should be capitalized otherwise…

Q: Rizio Co. purchases a machine for $12,000, terms 1/10, n/60, FOB shipping point. Rizio paid within…

A: Net purchase price=Purchase price-DIscount=$12,000-$120=$11,880

Q: Rizio Company purchases a machine for $12,400, terms 1/10, n/60, FOB shipping point. Rizio paid…

A: Cost of assets: As per the generally accepted accounting principles, the cost of assets includes all…

Q: Kegler Bowling buys scorekeeping equipment with an invoice cost of $175,000. The electrical work…

A: Lets understand the basics. As per IAS 16 "Property, plant and equipment", PPE should initially…

Q: Kegler Bowling buys scorekeeping equipment with an invoice cost of $185,000. The electrical work…

A: The equipment cost refers to the total expense incurred in the process of bringing a piece of…

Q: truck

A: Meaning of Cost of the Asset Cost of the asset includes all the costs that are incurred to bring the…

Q: On August 1, 20x1, ABC Co. received a P1,800,000 grant from the government to aid in ABC Co.’s…

A: Government grants: This is given to a corporation by a state, federal, or local government to help…

Q: A machine was purchased for $7,000, terms 2/10, n/60, FOB vendor's factory. The invoice was paid…

A: Given that, Cost of machine = $7,000  Trade discount = $7,000 * 2% = $140  Freight charges = $175…

Q: W bought a new printing machine. The cost of the machine was $80,000. The installation costs were…

A: We have the following information: Cost of the machine was $80,000 Installation costs were $5,000…

Q: Kegler Bowling installs automatic scorekeeping equipment with an invoice cost of $155,00O. The…

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Miller Corp. purchased a new machine for its factory. The following lists shows the various…

A: Note: Insurance costs incurred for the transit to the destination is only capitalized to the assets.…

Q: Lavoie Corporation acquired new equipment at a cost of $100,000 plus 7% provincial sales tax and 5%…

A: The Financial Accounting Standards Board (FASB) produced a collection of accounting principles,…

Q: Sandhill Co. purchases a new delivery truck for $78000. The sales taxes are $4400. The logo of the…

A: Note: Truck’s annual license is not included in the cost of the new truck because it will be paid…

Q: A contractor imported a bulldozer for his job paying P 260,000 to the manufacturer. Freight and…

A: note dear student as per the Q&A guideline we are required to answer the first three subparts…

Q: Wildhorse Co. purchased equipment on January 1 at a list price of $155000, with credit terms 3/10,…

A: Compute the total cost of new equipment:

Q: Lance is entering an invoice for a new item of equipment in the accounts. The invoice shows the…

A: Capital expenditures: These costs are incurred to extend the useful life, production capacity, and…

Q: capitalized as cost of the machine

A: The cost of a fixed asset includes the sum of amounts of money spent in bringing the asset into…

Q: The Rosie Company (a VAT-registered company) paid P231,840, inclusive of 12% value added tax, to buy…

A: Solution:- Calculation of the cost of acquisition of the Equipment as follows under:-

Q: Tumeng Co. acquired a piece of equipment for 1,000,000 and incurred the following additional costs:…

A:

Q: 1) Rocky Mountain Water Corporation paid $270,000 to purchase equipment for use in its manufacturing…

A: Equipment is the non-current asset that is used by the entities for the purpose of running the…

Q: Voiture Company manufactures compact, energy-efficient cars. On April 1, it purchased a machine for…

A: For computing cost of the machine, all cost directly related to machinery until it is put to use…

Q: P Company purchased equipment on January 1 at a list price of $127,000, with credit terms 2/10,…

A: Cost of assets includes purchase price , taxes (if credit not available) , installation charges or…

Q: On April 29, Welllington Co. paid $2,440 to repair the transmission on one of its delivery vans. In…

A: Capital expenditure is the outlay on the long-term things that is these are the resources that an…

Q: Cala Manufacturing purchases land for $297,000 as part of its plans to build a new plant. The…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: Whole Grain Bakery purchases an industrial bread machine for $30,000. In addition to the purchase…

A: Equipment refers to machinery that is manufacturing unit and the initial cost of machinery will…

Q: The Dalton Company purchases a new delivery truck for $20,000. The sales taxes are $1,000. The logo…

A: Cost or expenditure made on fixed assets can be categorized in two parts revenue expenditure and…

Q: Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list…

A: Capital costs are typically long-term (more than one year), fixed assets that are expected to…

Q: Reem Company purchases a new delivery truck for $56,000. The sales taxes are $3,000. The logo of the…

A: Cost of truck = Purchase Price + sales taxes + logo painting cost + safety testing

Q: Cala Manufacturing purchases land for $381,000 as part of its plans to build a new plant. The…

A: The journal entries are prepared to keep the record of day to day transactions of the business.  The…

Q: The following data relate to a firm's purchase of a machine used in the manufacture of its product:…

A: Total acquisition cost = Invoice price + Sales tax - Cash discount + Feight + Insurance cost while…

Q: Family Services, a small social service nonprofit agency, began operations on January 1, 20X1, with…

A: 1. Expenses - Expenses are the recurring in nature. To earn revenue company incurred some expense…

Q: Remal Bidiya Company purchased loading truck for their new factory for RO 6,00oo. The shipping costs…

A: There are two types of expenditures that are incurred in the business. One is revenue  expenditure…

Q: Loku, Please answer this.

A: