User Account

All Pages

Determine wha total value assigned to new piece of equipment

Assignment Help Accounting Basics
Reference no: EM132686718

Problem 1: Somerset Company acquired a piece of equipment with a list price of $200,000 for $184,000. Freight to Somerset's location was $8,000. Installation and testing costs were $7,500. An old piece of equipment was scrapped as a result of this new purchase. The old piece of equipment had an undepreciated value (net book value) of $8,000. The new piece of equipment is expected to have a 10 year life and a salvage value of $15,000. What is the total value assigned to the new piece of equipment?

Reference no: EM132686718

Questions Cloud

What would the general journal entry for frostburg company : What would the general journal entry for Frostburg Company? On January 1, 2017, Frostburg Company purchased for $68,500, equipment having a service life
Explain problems facing stark engineering recruitment team : Explain the current problems facing the Stark Engineering recruitment team and how the benefits of using an online recruitment system could solve these issues.
Make a recommendation to manny : Prepare PI and Payback Analysis, and then make a recommendation to Manny on which option is the more financially-sound investment.
Which is more important for control of fixed overhead costs : Brandt Gardner, the owner-manager, Which do you think is more important for control of fixed overhead costs: the spending variance or the volume variance?
Determine wha total value assigned to new piece of equipment : An old piece of equipment was scrapped as a result of this new purchase. Determine Wha total value assigned to new piece of equipment?
Prepare appropriate journal entries to record transactions : Prepare appropriate journal entries to record transactions in the Capital Projects Fund. (We suggest post the journal entries to general ledger T-account)
Make memo to nash sheen the controller of round company : Make memo to Nash Sheen, the controller of Round Company (your client) indicating and explaining the dollar impact on the financial statements
Differences between therapeutic proteins and antibiotics : What are the differences between therapeutic proteins and antibiotics in their structure, manufacture, and applications to curing health disorders.
Do think non-gaap information : Do you think non-GAAP information, such as that provided to financial analysts, should be audited? Consider the value of such information to the users

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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