Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Excel-Based Assignment #1: Acquisition Costs of Trucks Download and save file with naming convention EBA1 - Last Name, First Name - Acquisition Costs of

image text in transcribedimage text in transcribed

Excel-Based Assignment #1: Acquisition Costs of Trucks Download and save file with naming convention "EBA1 - Last Name, First Name - Acquisition Costs of Trucks", so mine would be "EBA1 - Viers, Gary - Acquisition Costs of Trucks". This helps me alphabetize and locate your assignment easily. Complete the following Excel-Based Assignment and submit to viersg@uw.edu no later than 5:30 pm on Tuesday, February 1st. LATE ASSIGNMENTS NOT ACCEPTED. 50 points possible; Perform all tasks as required below, i.e. cell referencing to original data, use of Excel Present Value formula for truck #2, proper account names, etc. EBA1 - Acquisition Costs of Trucks Nerds "R" Us Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are described below. 1. Truck #1 List price Cash acquisition cost 2. Truck #2 List price $ 15,000 13,900 $ 16,000 Acquisition cost Cash down payment Face amount of zero-interest bearing note assumed Note due date 2,000 14,000 April 1, 2021 Normal interest rate for this borrowing 10% Incremental borrowing rate 8% 3. Truck #3 List price $ 16,000 Acquired in exchange for a computer system that Nerds "R" Us carries in inventory Cost of computer system in inventory Normal selling price of computer system by Nerds "R" Us Inventory system used by Nerds "R" Us 4. Truck #4 List price 12,000 15,200 Perpetual $ 14,000 Acquired in exchange for common stock in Nerds "R" Us Corporation 1,000 shares Par value of common stock per share Market value of common stock per share $ 10.00 $ 13.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

Government and Not for Profit Accounting Concepts and Practices

Authors: Michael H. Granof, Saleha B. Khumawala

6th edition

978-1-119-4958, 9781118473047, 1118155971, 1118473043, 978-1118155974

More Books

Students also viewed these Accounting questions

Question

7. What is coaching? Is there one type of coaching? Explain.

Answered: 1 week ago

Question

What is the value of the bond in terms of the stock?

Answered: 1 week ago