a | Debited to asset account | |
1 | Fee paid to factory representative for installation | Yes |
2 | Freight | Yes |
3 | Insurance while in transit | Yes |
4 | New parts to replace those damaged in unloading | No |
5 | Sales tax on purchase price | Yes |
6 | Special foundation | Yes |
b | Debited to asset account | |
7 | Fees paid to attorney to review purchase agreement | Yes |
8 | Freight | Yes |
9 | Installation | Yes |
10 | Repair of damage incurred in reconditioning the press | No |
11 | Replacement of worn-out parts | Yes |
12 | Vandalism repairs during installation | No |
Costs of Acquiring Fixed Assets Melinda Stoffers owns and operates ABC Print Co. During February, ABC...
Costs of Acquiring Fixed Assets Melinda Stoffers owns and parts print cu Fet e costs in acquiring two printing presses. One printing press was w, and the other purchased from a business that recently filed for bankruptor a. Indicate which costs incurred in acquiring the new printing press (1-6 w ho debited to the asset account Item Debited to asset cu 1. Fee paid to factory representative for installation 2. Freight 3. Insurance while in transit 4. New parts to...
NEUSES Melinda Stoffers owns and operates ABC Print Co. During February, ABC incurred the following costs in acquiring two printing presses. One printing press was new, and the other was purchased from a business that recently filed for bankruptcy. a. Indicate which costs incurred in acquiring the new printing press (1-6 below) should be debited to the asset account. Item Debited to asset account 1. Fee paid to factory representative for installation 2. Freight 3. Insurance while in transit 4....
b. EX 10-1 (pág. 490)-Determinación del costo de activos (4 puntos) EX 10-1 Costs of acquiring fixed assets Melinda Stoffers owns and operates ABC Print Co. During February, ABC Print Co. incurred OBJ. 1 the following costs in acquiring two printing presses. One printing press was new, and the other was bought from a business that recently filed for bankruptcy Costs related to new printing press: 1. Fee paid to factory representative for installation 2. Freight 3. Insurance while in...
485 Chapter 9 Long-Term Assets: Fixed and intangible Problems: Series A Оb, 1 PR 9-1A Allocating payments and receipts to fixed asset accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk. Land, $400,000 2,500 285,000 55,000 15,500 5,000 Fee paid to attorney for title search ... Cost of real estate acquired as a plant site: Land. a. b. Building (to...
Allocating payment xed asset accounts The following payents and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asteris a. Fee paid to attorney for title seardch $2,500 b. Cost of real estate acquired as a plant site: Land 285,000 Building (to be demolished) 55,000 c. Delinquent real estate taxes on property, assumed by purchaser 15,500 d. Cost of razing and removing building acquired in (b)...