Austin Company incurred the following expenditures to buy a new machine: Invoice, $31,000 less 13% cash discount.
Question:
Austin Company incurred the following expenditures to buy a new machine:
Invoice, $31,000 less 13% cash discount.
Freight charges, $480.
Assembly charges, $1,400.
Special base to support machine, $500.
Machine dropped and repaired, $300.
What is the actual cost of the machine?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
The act...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
Students also viewed these Business questions
-
Ralph Company incurred the following expenditures to buy a new machine: Invoice, $35,000 less 8% cash discount Freight charges, $440. Assembly charges, $1,500. Special base to support machine, $502....
-
Mack Company incurred the following expenditures to buy a new machine: Invoice, $30,000 less 10% cash discount Freight charges, $500 Assembly charges, $1,400 Special base to support machine, $505...
-
The following questions are adapted from a variety of sources including questions developed by the AICPA Board of Examiners and those used in the Kaplan CPA Review Course to study property, plant,...
-
Motion of Electrons in a Magnetic Field An electron of mass m and charge -e is moving through a uniform magnetic field B = (B, 0, 0) in vacuum. (Figure 1)At the origin, it has velocity (Uz, Vy, 0),...
-
Draw up coherence transfer pathways for the following experiments: (a) triple-quantum filtered COSY (which is identical to DQF COSY, except that p = 3 between the last two pulses); (b) zero-quantum...
-
The graph of f (the derivative) is pictured below. Determine each of the following. (If infinite, specify either co or -00.) a. Interval on which f is decreasing, (-8, 5), (-4,-2), (0,00) b. x-values...
-
Earnings per Share If the company's most recent price per share of common stock is \(\$ 62.25\), what is the company's price-earnings ratio and dividend yield? Use the following financial data for...
-
The Pedal Pusher Bicycle Shop operates 7 days per week, closing only on Christmas Day. The shop pays $300 for a particular bicycle purchased from the manufacturer. The annual holding cost per bicycle...
-
Provide an Overview of inclusive leadership practices for leveraging diversity within teams and organizations.
-
Refer to Problem 8. Suppose each of the 1 million Islandian households has the same demand curve for heating oil. (L05) a. What is the household demand curve? b. How much consumer surplus would each...
-
Assume that in the scenario in Concept Check 8 the cash payment was $10,800. 1. What is the loss on the exchange? 2. Provide a journal entry to record the exchange.
-
Falcon Co., whose accounting period ends on December 31, purchased a machine for $6,900 on January 1 with an estimated residual value of $760 and an estimated useful life of 5 years. Prepare...
-
Why are good work habits and time management so effective in reducing job stress?
-
a.How would you incorporate the fact that a firm is becoming more efficient in using its assets to generate revenue into your project company valuation? How would this be reflected in the value of a...
-
# 1. (20 points) Let z = 5-15i, w = 1-2i, and simplify the following quantities: (i) w (ii) w (111) w v = 2 Evaluate and
-
1 75% of the time a stock's return is 12%, otherwise it is -4%. What is its expected return?
-
11 What is Company Co.'s total enterprise value calculated based on 2019E revenue and 2019E mean EV/Revenue multiple?
-
An investor decides to invest a certain amount of money in a portfolio consisting of Security 1 and Security 2. The investment share in Security 1 is 60%, and the remainder in Security 2. Given the...
-
How can NAFTA be beneficial to suppliers of Walmart?
-
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....
-
If the partners in Exercise 2 have the following agreement, please calculate the total salary and interest allowance: In Exercise 2, John Conway, Steve Barrett, and Mary Fitzpatrick invested $3,000,...
-
Using your answer from Exercise 4, how much more income is to be distributed to the partners (assume each shares equally) after the salary and interest allowance? If net income was $12,000, how much...
-
On February 7, Al OToole sold his equity in the partnership to Bill Mays for $5,500. Als capital account had a $4,250 balance. Record the journal entry.
-
Calculate the (NPV, PI, and IRR calculations) You are considering two independent projects, project A and project B. The initial cash outlay associated with project A is $50,000, and the initial cash...
-
Suppose the risk - free interest rate is 4 . 2 % . a . Having $ 2 0 0 today is equivalent to having what amount in one year?b . Having $ 2 0 0 in one year is equivalent to having what amount today?c...
-
How much rent would you have to charge if you have taxes of 3,000.00 rent of 900.00, maintenance of 2,500.00 and you pay 100,000.00 for the property and you want an 8% cap rate. This is all the...
Study smarter with the SolutionInn App