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Farha Co. purchases a machine for $11,500, terms 2/10, n/60, FOB shipping point. The seller prepaid the $260 freight charges, adding the amount to the invoice and bringing its total to $11,760. The machine requires special steel mounting and power connections costing $795. Another $375 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $190 in damages occurred. Materials costing $30 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. Compute the cost recorded for this machine.( Farha pays for this machine within the cash discount period)
What are the possible implications if accountants outsource the balance sheet to external appraisers (applying fair value accounting) for period-end financial statement reporting?
A new retail store has offered to buy 8,300 of its skateboards for $59 per unit. The store is in a different market from Calla's regular customers and it would not affect regular sales. A study of its costs in anticipation of this additional busin..
Morales Company issued $800,000 of 8%, 5-year bonds at 106, which pays interest annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year?
The cost recovery method was chosen.
For eaqch of the folowing expenditures, indiacte the type of account in which the expenditure should be recorded. Explain your answers.
Compute the cost allocation rate for each activity - Computing ABC allocation rates
which equation measures the total budget variance?aq ap - sp.sp aq - sq.sq ap - sp.aq ap - sq
horton enterprises issued 100000 10 year 6 bonds payable on 11.interest is payable each 6 months 11 and 71.the discount
Describe the discrepancy between Diamond Foods, Inc.'s description of payments to walnut growers and what the farmers themselves say the payments are for
Calculate the amount of gross profit (loss) to be recognized in each of the three years, assuming the following costs incurred and costs to complete information.
The loan to Earl's niece was at a market interest rate. Flora and Earl also received a $100 check for opening up a new brokerage account to buy the Cargill stock. What is Flora and Earl's investment income?
Evaluate the statements made by Walker. Comment specifically on Walker's computation of the manufacturing cost of units sold and on whether it appears that the reduction in the cost of finished goods sold was achieved through more efficient operat..
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