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Cost of plant assets LO C1 Rizio Co. purchases a machine for $12,500, terms 2/10, n/60, FOB shipping point. The seller prepaid the $360 freight charges, adding the amount to the invoice and bringing its total to $12,860. The machine requires special steel mounting and power connections costing $895. Another $475 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $180 in damages occurred. Materials costing $40 are used in adjusting the machine to produce a satisfactory product. The adjustments are normal for this machine and are not the result of the damages. Complete the below table to calculate the cost recorded for this machine. (Rizio pays for this machine within the cash discount period.)
cincinnati flow technology cft has purchased 10000 pumps annually from kobec inc. because the price keeps increasing
Tosco Co. paid $540,000 for 80% of the stock of Martz Co. when the book value of Martz's net assets was $600,000. For all of Martz's assets and liabilities, book value and fair value were approximately equal.
Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.
1 in 2013 company a sold inventory costing 100 to its fully-owned subsidiary company b for 150. the entire inventory
Subtract the $60,000 write-off) b) Prepare the journal entry for the year-end adjustetn to the Allowance for Doubtful Accounts balance as of Dec 31,2007
For 2007 Mossland Corporation reported gross profit $100,000; net income of $24,000; sales $500,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 profit margin?
examine the circumstances that resulted in the merger or acquisition for the selected company. speculate on two 2
The IRS can impose intermediate sanctions on a public charity if its gross unrelated business income exceeds 50% of its gross income, or if less than two-thirds of its net unrelated business income is used in carrying out its tax-exempt mission. ..
What are the two techniques used to convert trial balances from foreign currencies in U.S. dollars? Explain the situations when you would employ each metod.
Compare target costing and cost-plus pricing. When is each the most appropriate method to use? Provide an example of each.
What are the relative roles of fraud theory, evidence, expert opinion, and a court case in fraud investigations?
on september 1 2013 triton entertainment borrowed 24 million cash to fund a new fun park. the loan was made by nevada
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