Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 26, 2024

Benson company required a machine that involved the following expenditures related factors: Gross invoice price $38,000 Sale tax $1,425 Cash discounts taken $570 Freight $675

Benson company required a machine that involved the following expenditures related factors:

Gross invoice price $38,000

Sale tax $1,425

Cash discounts taken $570

Freight $675

Assembly of machine $900

Installation of machine $3,350

Assorted spare parts for future use $2,700

Tuning and adjusting machine before use $450

Initial accounting cost of the machine should be?

plz show steps

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

4th Edition

0471072419, 978-0471072416

More Books

Students also viewed these Accounting questions

Question

★★★★★

Laura, a bond portfolio manager, administers a $10 million portfolio. The portfolio currently has a duration of 8.5 years. Laura wants to shorten the duration to 6 years using T-bill futures. T-bill...

Answered: 1 week ago

Question

★★★★★

Use the Internet to find four definitions of quality. a. Compare and contrast each of the four definitions with specific emphasis on whether the definition includes conformity or customer...

Answered: 1 week ago

Question

★★★★★

=+b) Check the conditions for a Wilcoxon rank-sum (or Mann-Whitney) test.

Answered: 1 week ago

Question

★★★★★

If you put up $45,000 today in exchange for a 6.25 percent, 15-year annuity, what will the annual cash flow be?

Answered: 1 week ago

Question

★★★★★

Q.5 (11 marks) Draw a class diagram that reflects the folowing specification: A chapter contain pages The set of pages plays the role "pages" in a chapter A set of at least five chapters is called:...

Answered: 1 week ago

Question

★★★★★

Luna Lighting, a retail firm, has experienced modest sales growth over the past three yearsbut has had difficulty translating the expansion of sales into improved profitability. Usingthree years...

Answered: 1 week ago

Question

★★★★★

Bloggs Boots (K) Ltd. is a leading manufacturer of a wide range of goods which are either consumed locally or exported. During the month of September 2020, the following transactions took place:...

Answered: 1 week ago

Question

★★★★★

Case for ethical analysis: You are on a team that has been providing care, including annual wellness exams for Ms. Angel, a 25-year-old female, for the past two years. When she was establishing care...

Answered: 1 week ago

Question

★★★★★

1)) Birchwood Lanes School will maintain personal records for all students and teachers, as well as course curricula. A new database management system can organize the data of all entities. The...

Answered: 1 week ago

Question

★★★★★

1. What is the Government's role in the Public-Interest Game. 2. What is a Kaizen System and what is the purpose of this system for the organization? 3. What is the cycle- market and what are the...

Answered: 1 week ago

Question

★★★★★

A 0 Q3 A steel plate with a square hole in the middle of the plate is subjected to a uniform distributed tensile stress of 1PQR N/m as shown in Figure Q3.1 The modulus elasticity of the plate is 210...

Answered: 1 week ago

Question

★★★★★

The sample data for 2 5 Ohio administrators is contained in the file named Administrator. What is the p value for your hypothesis test in part ( a ) ? If required, round your answer to four decimal...

Answered: 1 week ago

Question

★★★★★

1 This dealing room is an expression of a strong culture in which everyone is expected to share the same basic values. What features of the situation are likely to encourage such a unanimous view?...

Answered: 1 week ago

Question

★★★★★

2 What might make the culture difficult to change? RWE, the Essen- based power and water corporation (utility), is adapting to the forces of globalisation. Less than a decade ago the 100- year- old...

Answered: 1 week ago

Question

★★★★★

2 How were the management and leadership of the change received by employees?

Answered: 1 week ago

Previous Question Next Question