Homework Answers
Answer : $48,210
Cost of the Truck Should be recorded
= Cost +sales Tax+ Printing Expenses+Safety Testing = 45,000+2,000+1,000+210 =$ 48,210 (Answer)
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Question 21 Blossom Company purchases a new delivery truck for $45000. The sales taxes are $2000....
a new delivery truck for $54200?The sales taxes are $4400. The logo of the company is...
a new delivery truck for $54200?The sales taxes are $4400. The logo of the company is painted on the side of the truck for $1600. The truck icense is $170. The truck undergoes safety testing for $350. What does Marigold record as the cost of the new truck? $60550 $60200 $60720
ignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Multiple Choice Question 66 Wildhorse Co. purchases a...
ignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Multiple Choice Question 66 Wildhorse Co. purchases a new delivery truck for $74000. The sales taxes a $2000. The logs of the company is painted on the side of the truck for $1600. The truck's annual license is $140. The truck undergoes safety testing for $270. What does Wildhorse record as the cost of the new truck O $77870 $75870 $78010 $76000 TO TEXT Question Attempts of weed
20. Which of the following plant assets does not decline in service potential over the course...
20. Which of the following plant assets does not decline in service potential over the course of its useful life? a. Land Improvement b. Building c. Land d. Equipment 21. Concord Company purchases a new delivery truck for $54,300. The sales taxes are $3.700. The logo of the company is painted on the side of the truck for $1,600. The truck license is $170. The truck undergoes safety testing for $270. What does Concord record as the cost of the...
Brief Exercise 9-2 Ivanhoe Company incurs these expenditures in purchasing a truck: cash price $29,930, accident...
Brief Exercise 9-2 Ivanhoe Company incurs these expenditures in purchasing a truck: cash price $29,930, accident insurance (during use) $1,500, sales taxes $1,150, motor vehicle license $600, and painting and lettering $1,790. What is the cost of the truck? The cost of the truck Click if you would like to Show Work for this question: Open Show Work
Bramble Company purchased a delivery truck for $26000 on Jan 1, 2020. The truck has an...
Bramble Company purchased a delivery truck for $26000 on Jan
1, 2020. The truck has an expected salvage value of $1160, and is
expected to be driven 108,000 miles over its estimated useful life
of 10 years. Actual miles driven were 15,500 in 2020 and 14,700 in
2021.
(51) Assume that Bramble uses the straight-line method. Prepare the journal entry to record 2020 depreciation. (Credit account titles are automatically indented entered. Do not indent manually. If no entry is required,...
Brief Exercise 7-4 Sage Hill Chemicals Company acquires a delivery truck at a cost of $20,800...
Brief Exercise 7-4 Sage Hill Chemicals Company acquires a delivery truck at a cost of $20,800 on January 1, 2017. The truck is expected to have a salvage value of $3,400 at the end of its 4-year useful life. Compute annual depreciation for the first and second years using the straight-line method. (Round answers to 0 decimal places, e.g. 125.) First Year Second Year Annual depreciation under straight-line method Click if you would like to Show Work for this question:...
Crane Company purchases land for $200000 cash. Crane assumes $5900 in property taxes due on the...
Crane Company purchases land for $200000 cash. Crane assumes $5900 in property taxes due on the land. The title and attorney fees totaled $2300. Crane has the land graded for $4000. They paid $20000 for paving of a parking lot. What amount does Crane record as the cost for the land? O $206300. $212200 $232200. O $200000. Click if you would like to Show Work for this question: Open Show Work
Multiple Choice Question 57 Cullumber Company purchases land for $120000 cash. Cullum ber assumes $5100 in...
Multiple Choice Question 57 Cullumber Company purchases land for $120000 cash. Cullum ber assumes $5100 in property taxes due on the land. The title and attorney fees totaled $2300. Cullumber has the land graded for $3600. They paid $18000 for paving of a parking lot. What amount does Cullumber record as the cost for the land? $125900. $131000. O$149000. $120000. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of used SAVE...
Exercise 10-07 a1-b2 Concord Company purchased a delivery truck for $29,000 on January 1, 2020. The...
Exercise 10-07 a1-b2
Concord Company purchased a delivery truck for $29,000 on
January 1, 2020. The truck has an expected salvage value of $1,000,
and is expected to be driven 100,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,300 in 2020
and 13,200 in 2021.
Your answer is correct.
Calculate depreciation expense per mile under units-of-activity
method. (Round answer to 2 decimal places, e.g.
0.50.)
Depreciation expense
$
per mile
SHOW LIST OF ACCOUNTS...
Exercise 21-5 Your answer is partially correct. Try again. Coronado Leasing Company leases a new machine...
Exercise 21-5 Your answer is partially correct. Try again. Coronado Leasing Company leases a new machine that has a cost and fair value of $72,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer Corporation agrees to assume all risks of normal ownership including such costs as insurance, taxes, and maintenance. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2017. Coronado Leasing Company expects to earn a 9% return on...
a new delivery truck for $54200?The sales taxes are $4400. The logo of the company is painted on the side of the truck for $1600. The truck icense is $170. The truck undergoes safety testing for $350. What does Marigold record as the cost of the new truck? $60550 $60200 $60720
ignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Multiple Choice Question 66 Wildhorse Co. purchases a new delivery truck for $74000. The sales taxes a $2000. The logs of the company is painted on the side of the truck for $1600. The truck's annual license is $140. The truck undergoes safety testing for $270. What does Wildhorse record as the cost of the new truck O $77870 $75870 $78010 $76000 TO TEXT Question Attempts of weed
20. Which of the following plant assets does not decline in service potential over the course of its useful life? a. Land Improvement b. Building c. Land d. Equipment 21. Concord Company purchases a new delivery truck for $54,300. The sales taxes are $3.700. The logo of the company is painted on the side of the truck for $1,600. The truck license is $170. The truck undergoes safety testing for $270. What does Concord record as the cost of the...
Brief Exercise 9-2 Ivanhoe Company incurs these expenditures in purchasing a truck: cash price $29,930, accident insurance (during use) $1,500, sales taxes $1,150, motor vehicle license $600, and painting and lettering $1,790. What is the cost of the truck? The cost of the truck Click if you would like to Show Work for this question: Open Show Work
Bramble Company purchased a delivery truck for $26000 on Jan
1, 2020. The truck has an expected salvage value of $1160, and is
expected to be driven 108,000 miles over its estimated useful life
of 10 years. Actual miles driven were 15,500 in 2020 and 14,700 in
2021.
(51) Assume that Bramble uses the straight-line method. Prepare the journal entry to record 2020 depreciation. (Credit account titles are automatically indented entered. Do not indent manually. If no entry is required,...
Brief Exercise 7-4 Sage Hill Chemicals Company acquires a delivery truck at a cost of $20,800 on January 1, 2017. The truck is expected to have a salvage value of $3,400 at the end of its 4-year useful life. Compute annual depreciation for the first and second years using the straight-line method. (Round answers to 0 decimal places, e.g. 125.) First Year Second Year Annual depreciation under straight-line method Click if you would like to Show Work for this question:...
Crane Company purchases land for $200000 cash. Crane assumes $5900 in property taxes due on the land. The title and attorney fees totaled $2300. Crane has the land graded for $4000. They paid $20000 for paving of a parking lot. What amount does Crane record as the cost for the land? O $206300. $212200 $232200. O $200000. Click if you would like to Show Work for this question: Open Show Work
Multiple Choice Question 57 Cullumber Company purchases land for $120000 cash. Cullum ber assumes $5100 in property taxes due on the land. The title and attorney fees totaled $2300. Cullumber has the land graded for $3600. They paid $18000 for paving of a parking lot. What amount does Cullumber record as the cost for the land? $125900. $131000. O$149000. $120000. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of used SAVE...
Exercise 10-07 a1-b2
Concord Company purchased a delivery truck for $29,000 on
January 1, 2020. The truck has an expected salvage value of $1,000,
and is expected to be driven 100,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,300 in 2020
and 13,200 in 2021.
Your answer is correct.
Calculate depreciation expense per mile under units-of-activity
method. (Round answer to 2 decimal places, e.g.
0.50.)
Depreciation expense
$
per mile
SHOW LIST OF ACCOUNTS...
Exercise 21-5 Your answer is partially correct. Try again. Coronado Leasing Company leases a new machine that has a cost and fair value of $72,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer Corporation agrees to assume all risks of normal ownership including such costs as insurance, taxes, and maintenance. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2017. Coronado Leasing Company expects to earn a 9% return on...
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