Capitalized cost of the ten-ton draw press

Assignment Help Accounting Basics
Reference no: EM13151082

Grab Manufacturing Co. purchased a ten-ton draw press at a cost of $180,000 with terms of 5/15 n/45. Payment was made within the discount period. Shipping costs were $4,600, which included $200 for insurance in transit. Installation costs totaled $12,000, which included $4,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the ten-ton draw press is:

Reference no: EM13151082

Questions Cloud

What is the proportion of brown and yellow offspring : What is the proportion of brown and yellow offspring when a brown mouse mates with a yellow mouse? And What is the proportion of brown and yellow offspring when a brown mouse mates with a brown mouse?
Proper treatment for uncollectible amounts of tax revenue : Which of the following best describes the proper treatment for uncollectible amounts of tax revenue?
Explain what is probability of between success : Probabilities can be approximated by the normal probability distribution? Explain What is the probability of between 100 and 110 successes? What is the probability of 130 or more succeses?
Explain the atmospheric pressure : The atmospheric pressure 4.The volume for the vapor to occupy above the liquid 5.The temperature of the liquid
Capitalized cost of the ten-ton draw press : Installation costs totaled $12,000, which included $4,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the ten-ton draw press is:
Which type of transport uses atp directly : Which type of transport functions to make a concentration gradient ?
Calculate the price level and cost of borrowing money : measure used to calculate the price level and measure used to calculate the cost of borrowing money.
Actual manufacturing overhead : Kuczenski Corporations cost formula for its manufacturing overhead is $45,700 per month plus $53 per machine hour. For the month of March, the company planned for activity of 6,200 machine-hours, but the actual level of activity was 6,150 machine ..
Economic value added for the current situation : Accurately computes the return on investment, economic profit, and economic value added for the current situation. (Assume that the after-tax cost of capital is 8%. The formulas used in your calculations must be included.)

Reviews

Write a Review

Accounting Basics Questions & Answers

  Accounting-current and future periods

Which type of accounting change should always be accounted for in current and future periods?

  What amount of gain should anderson recognize

On October 1, 2009, Donald Anderson exchanged an apartment building, having an adjusted basis of $375,000 and subject to a mortgage of $100,000, for $25,000 cash and another apartment building with a fair market value of $550,000 and subject to a ..

  What is the net amount to be paid the employee

hours worked, 48; federal income tax withheld, $341; cumulative earnings for year prior to current week, $96,780; social security tax rate, 6.0% on maximum of $103,004; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid..

  Market share and concentration ratio

These top firms in industry C have market shares of 30, 25, 10 and 5% respectively. The top four firms in industry D have market shares of 15, 12, 8 and 4 % respectively.

  Computing net cash provided or used by operating activities

A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. Calculate the net cash provided or used by operating activities

  What are the great approaches for cash management

What are the great approaches for cash management? If you are the controller who is in charge of managing cash, what methods would you take and why? 200-250 words please.

  Use the elements of the fraud triangle discussed

Use the elements of the fraud triangle discussed in the chapter to identify internal control risks that should have influenced KPMG's position.

  Reveal total overhead costs

A flexible budget for 15,000 hours revealed variable manufacturing overhead of $90,000 and fixed overhead of $120,000. The budget for 25,000 hours would reveal total overhead costs of:

  Projects having normal cash flows

Ahyee Corp. is considering two equally risky, mutually exclusive projects, both of which projects have normal cash flows. Project A has an IRR of IRR of 11%, while Project B's IRR is 14%.

  Amendment of a pension plan

When a company amends a pension plan, for accounting purposes, prior service costs should be:

  Interest costs during construction and cost of land

Excavation cost $10,440. The contractor was paid $2,200,000. An assessment made by the city for pavement was $6,400. Interest costs during construction were $170,000.The cost of the land that should be recorded by Terry Co. is ??

  Assessment of the sustainability of ups

How is FedEx performing? How, if at all, do is performance and plans affect your assessment of the sustainability of UPS's current performance?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd