Homework Answers
| Machine A | Machine B | Machine C | |
| Invoice price paid for asset | 23900 | 31100 | 13000 |
| Add: Installation costs | 1600 | 1100 | 900 |
| Add: Renovation costs prior to use | 2500 | 2400 | 1600 |
| Total cost | 28000 | 34600 | 15500 |
| Total cost | |||
| Machine A | 28000 | ||
| Machine B | 34600 | ||
| Machine C | 15500 |
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Required information [The following information applies to the questions displayed below. At the beginning of the...
Required information [The following information applies to the questions displayed below.) At the beginning of the...
Required information [The following information applies to the questions displayed below.) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A $ 26,300 2,200 3,400 Machine B $ 32,900 2,400 1,100 Machine C $ 9,700 900...
At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick...
At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Machine A Machine B Machine C Invoice price paid for asset $ 27,300 $ 30,900 $ 25,700 Installation costs 1,500 2,800 1,600 Renovation costs prior to use 2,900 2,600 2,400 By the end of the first year, each machine had...
At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc....
At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. $20,700 Machine A $ 20,700 850 650 520 Machine B $11,200 1,000 800 2,000 Amount paid for asset Installation costs Renovation costs prior to use Repairs after production began $11,200 Machine C $ 10,900 300 700 580 $10,900 By the end of...
At the beginning of the year, Young Company bought three used machines from Vince, Inc. The...
At the beginning of the year, Young Company bought three used machines from Vince, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Machine A Machine B Machine C Amount paid for asset $ 7,650 $ 25,700 $ 9,400 Installation costs 250 650 550 Renovation costs prior to use 1,600 1,250 1,150 Repairs after production began 410 360 350 By the end of the first year,...
depreciation expense
At the beginning of the year, Grillo Industries bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset$9,000Installation costs800Renovation costs prior to use600Repairs after production began500
Please answer the "Required 1" showing the apportionment of cost, cost of each machine, depreciation or amortization exp...
Please answer the "Required 1" showing the apportionment of
cost, cost of each machine, depreciation or amortization expense,
journal entry, and journal entries for each machine: Compute the
cost of each machine by making a supportable allocation of the
total cost to the three machines (round your calculations to two
decimal places). Explain the rationale for the allocation basis
used.
2. What was the carrying amount of the building on December 31, 2018? 3. Explain the effect of depreciation on...
tion under Three LO8-2,8-3 excel P8-4 building in 2015. 4. Explain the effect of depreciation on...
tion under Three LO8-2,8-3 excel P8-4 building in 2015. 4. Explain the effect of depreciation on cash flows. Computing a Basket Purchase Allocation, and Recording Depreciation under Alternative Methods (AP8-3) At the beginning of the year. Wong's Martial Arts Centre bought three used fitness machi Hangar Inc. for a total cash price of $38,000. Transportation costs on the machines we machines were immediatelu overhauled and installed, and started operating. The machine different: therefore, each had to be recorded separately in...
At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression Incorporated....
At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression Incorporated. The machines immediately were overhauled, installed, and started operating. Because the machines were different from each other, each was recorded separately in the accounts. 29 Machine A $10,000 1,600 600 500 Machine C $22,000 800 Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Machine B $31, 500 2,100 1,400 400 1,600 700 By the end of the...
value: 10.00 points At the beginning of the year, Grillo Industries bought three used machines...
value: 10.00 points At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Machine A Machine B Machine C $10,100 $39,300 $23,100 850 3,200 2,300 650 2,800 3,300 800 700 1,800 By the end of the first...
At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines...
At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Machine $ 20,600 800 Machine B $11,100 Amount paid for asset Installation costs Renovation costs prior to use Repairs after production began Machine C $10,800 200 600 480 900 700 1.900 600 420 By the end of the first year, each machine...
Required information [The following information applies to the questions displayed below.) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A $ 26,300 2,200 3,400 Machine B $ 32,900 2,400 1,100 Machine C $ 9,700 900...
At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. $20,700 Machine A $ 20,700 850 650 520 Machine B $11,200 1,000 800 2,000 Amount paid for asset Installation costs Renovation costs prior to use Repairs after production began $11,200 Machine C $ 10,900 300 700 580 $10,900 By the end of...
Please answer the "Required 1" showing the apportionment of
cost, cost of each machine, depreciation or amortization expense,
journal entry, and journal entries for each machine: Compute the
cost of each machine by making a supportable allocation of the
total cost to the three machines (round your calculations to two
decimal places). Explain the rationale for the allocation basis
used.
2. What was the carrying amount of the building on December 31, 2018? 3. Explain the effect of depreciation on...
tion under Three LO8-2,8-3 excel P8-4 building in 2015. 4. Explain the effect of depreciation on cash flows. Computing a Basket Purchase Allocation, and Recording Depreciation under Alternative Methods (AP8-3) At the beginning of the year. Wong's Martial Arts Centre bought three used fitness machi Hangar Inc. for a total cash price of $38,000. Transportation costs on the machines we machines were immediatelu overhauled and installed, and started operating. The machine different: therefore, each had to be recorded separately in...
At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression Incorporated. The machines immediately were overhauled, installed, and started operating. Because the machines were different from each other, each was recorded separately in the accounts. 29 Machine A $10,000 1,600 600 500 Machine C $22,000 800 Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Machine B $31, 500 2,100 1,400 400 1,600 700 By the end of the...
value: 10.00 points At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Machine A Machine B Machine C $10,100 $39,300 $23,100 850 3,200 2,300 650 2,800 3,300 800 700 1,800 By the end of the first...
At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Machine $ 20,600 800 Machine B $11,100 Amount paid for asset Installation costs Renovation costs prior to use Repairs after production began Machine C $10,800 200 600 480 900 700 1.900 600 420 By the end of the first year, each machine...
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