Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 27, 2024

On 1 October 2018 Starring Co acquired a machine under the following terms. Cost 60,000 Trade discount (applying to cost only) 10% Freight charges

On 1 October 2018 Starring Co acquired a machine under the following terms. Cost 60,000 Trade discount (applying to cost only) 10% Freight charges 2,000 Electrical installation cost 1,000 Staff training in use of machine 3,000 Pre-produttion testing 2,000 Purchase of a three-year maintenance contract 4,000 What amount should be recognised under non-current assets as the cost of the machine on 1 October 2018?

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

Advanced Accounting

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

11th edition

538480289, 978-0538480284

More Books

Students also viewed these Accounting questions

Question

★★★★★

A survey of U.S. adults found that 33% name professional football as their favorite sport. You randomly select 14 U.S. adults and ask them to name their favorite sport. Find the probability that the...

Answered: 1 week ago

Question

★★★★★

Another committee member suggested that, rather than evaluate each managed portfolio independently of other portfolios, it might be better to consider the effects of a change in the Hennessy...

Answered: 1 week ago

Question

★★★★★

For the saturated model with Table 2.2, report {^} (a) using "sum to zero" constraints, (b) using a form of constraints for which only XY is nonzero. Show how to interpret these estimates using an...

Answered: 1 week ago

Question

★★★★★

=+a) U.S. change by size: dime, penny, nickel, quarter, half dollar, dollar.

Answered: 1 week ago

Question

★★★★★

Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the following independent cases affecting Tiger Corp. Include an explanation for each...

Answered: 1 week ago

Question

★★★★★

Becky Shelton, a teacher at Kemp Middle School, is in charge of ordering the T-shirts to be sold for the schools annual fund-raising project. The T-shirts are printed with a special Kemp School logo....

Answered: 1 week ago

Question

★★★★★

Analyze, Forecast, and Interpret Income Statement and Balance Sheet Following are the income statement and balance sheet of ADP Inc. Note: Complete the entire question using the following Excel...

Answered: 1 week ago

Question

★★★★★

Martinez Corp. has just received its August 31, 2023 bank statement, which is summarized as follows: The general ledger Cash account contained the following entries for the month of August: Deposits...

Answered: 1 week ago

Question

★★★★★

13. Which stress value(s) will be nonzero at location J? A. Ozz B. Oyy X C. Ozz D. y E. Ozz F. Oyz X y A M Cross Section at A-A Y Z A B 0/1 points

Answered: 1 week ago

Question

★★★★★

Question on setting up supplier records(Q=115.F.M.CS.S.Q1) After you have finished setting up the supplier records for Hi-Fi Way, Edgar asks you to perform the following steps in MYOB and then...

Answered: 1 week ago

Question

★★★★★

Which forms of speculation or postponement is each of the following? (Explain in full) 1) A computer hardware company is producing parts of the computer and ship. them to market but only assemble...

Answered: 1 week ago

Question

★★★★★

Identify and describe the most possible generic strategy (ies) followed by your corporation. Mention the evidence you find from the corporate site. Use the industry analysis (Five Forces of Porter...

Answered: 1 week ago

Question

★★★★★

10 You are working through negotiations with stakeholders of your project and want to find ways to more effectively influence. What are the four steps to effective influence according to Dr. Jay...

Answered: 1 week ago

Question

★★★★★

3. You manage a pension fund that will provide retired workers with lifetime annuities. You determine that the payouts of the fund are essentially going to resemble level perpetuities of S1 million...

Answered: 1 week ago

Question

★★★★★

The comparative statements of financial position of Menachem NV at the beginning and end of the year 2019 appear below. Net income of ¬34,000 was reported, and dividends of ¬23,000 were paid...

Answered: 1 week ago

Question

★★★★★

6. Is Fine Woodworking in danger of losing subscriptions to its paper magazine to the online magazine? Does it matter? Why or why not?

Answered: 1 week ago

Question

★★★★★

1. Investigate auctions on eBay and, for any category of product in which you have knowledge or interest, compare selling prices to prices of new goods from e-commerce sites. Attempt to find one or...

Answered: 1 week ago

Question

★★★★★

Describe the ways in which firms can raise funds for new investment. AppendixLO1

Answered: 1 week ago

Previous Question Next Question