Homework Answers
| Amount | |
| Cash | 110000 |
| Delivery cost | 9000 |
| Sales Tax | 1200 |
| Shipping insurance | 500 |
| installation | 750 |
| Total Cost of Asset which is recorded | 121450 |
| Annual Insurance fees for techinal fault are Revenue expenditure . | |
| As well as cost of lubricant is also Revenue expenditure | |
Entry is
Asset A/c Dr. 121450
to Cash/Bank A/c 121450
Add Answer to:
Quiz 2 | Principles of Accounting 2 (ACCT 102)| Spring 2019 Question 2: (2.5 Marks) Al-Jazerah Co...
ACG 2071 Spring 2019 Quiz: CH 2 Quiz This Question: 1 pt Fit Apparel Company reports...
ACG 2071 Spring 2019 Quiz: CH 2 Quiz This Question: 1 pt Fit Apparel Company reports the following data for its first year of operation Cost of goods manufactured Work in process inventory, beginning Work in process inventory, ending Direct materials used Direct Labor Manufacturing overhead Finished goods inventory, beginning Finished goods inventory, ending $155,800 90,500 85,400 60,000 100,900 70,500 What is the cost of goods sold? ⓔA. S155800 OB· 5342.100 Ос. s160 900 e D. $85.300 Take a Test...
HTU Spring 2019 Principles of Macroeconomic Quiz: ASSESS Chapter 2 Quiz This Question: 1 pt 10...
HTU Spring 2019 Principles of Macroeconomic Quiz: ASSESS Chapter 2 Quiz This Question: 1 pt 10 of 19 The table provides information about the production possibilties of a firm that Cups (pe produces tableware Plates Possibility (per hour)(per Cups 16 12 and Draw points that show the three possibilities defined by the table. Label them A, B, and C Draw the firm's PPF by connecting the points. Label it Along this PPF, the quantities of 0 A. O B. O...
ACCT 102, Winter 2018-2019 uiz: CHAPT 15 (Quiz) 4 of 6 (2 co his Question: 1...
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BBA BUS 400202 PRINCIPLES OF FINANCIAL ACCOUNTING 1 (10% WEIGHTING) TERM 2, 2019-20 ANSWER ALL THE...
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P9.3A (LO 1, 2) AP Payne Company purchased equipment on account on September 3, 2019, at...
P9.3A
(LO 1, 2) AP Payne Company
purchased equipment on account on September 3, 2019, at an invoice
price of $210,000. On September 4, 2019, it paid $4,400 for
delivery of the equipment. A one-year, $1,975 insurance policy on
the equipment was purchased on September 6, 2019. On September 20,
2019, Payne paid $5,600 for installation and testing of the
equipment. The equipment was ready for use on October 1, 2019.
Payne estimates that the equipment's useful life will be...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
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JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
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Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming...
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CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a...
CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...
ACG 2071 Spring 2019 Quiz: CH 2 Quiz This Question: 1 pt Fit Apparel Company reports the following data for its first year of operation Cost of goods manufactured Work in process inventory, beginning Work in process inventory, ending Direct materials used Direct Labor Manufacturing overhead Finished goods inventory, beginning Finished goods inventory, ending $155,800 90,500 85,400 60,000 100,900 70,500 What is the cost of goods sold? ⓔA. S155800 OB· 5342.100 Ос. s160 900 e D. $85.300 Take a Test...
HTU Spring 2019 Principles of Macroeconomic Quiz: ASSESS Chapter 2 Quiz This Question: 1 pt 10 of 19 The table provides information about the production possibilties of a firm that Cups (pe produces tableware Plates Possibility (per hour)(per Cups 16 12 and Draw points that show the three possibilities defined by the table. Label them A, B, and C Draw the firm's PPF by connecting the points. Label it Along this PPF, the quantities of 0 A. O B. O...
ACCT 102, Winter 2018-2019 uiz: CHAPT 15 (Quiz) 4 of 6 (2 co his Question: 1 pt The financial statements 囲(click the icon to ve O Financal Statements nswer to tw a. Compute the current a Current ratio = L b. Compute the cash ratic cash ratio =[ Current Year Preceding Year Balance Sheet: s 17,000$ 27,000 22,000 82,000 64,000 8,000 203,000 Cash | 15,000 62,000 74,000 11,000 179.000 Short-term Investments Compute theacid-testNet Accounts Merchandise Inventory Acid-test ratio Prepaid Expenses...
BBA BUS 400202 PRINCIPLES OF FINANCIAL ACCOUNTING 1 (10% WEIGHTING) TERM 2, 2019-20 ANSWER ALL THE QUESTIONS Section A OBJECTIVE TYPE MULTIPLE CHOICE QUESTIONS (MCQs) Each question carries ONE MARK - Total: 5 marks Choose the correct answer: 1. Consider the following expenses incurred by a owner of a company while purchasing an Equipment. Cash purchase price paid to the seller of equipment; Sales taxes: Freight charges; Insurance during transit paid by the Owner for installation; Expenditures required in assembling,...
P9.3A
(LO 1, 2) AP Payne Company
purchased equipment on account on September 3, 2019, at an invoice
price of $210,000. On September 4, 2019, it paid $4,400 for
delivery of the equipment. A one-year, $1,975 insurance policy on
the equipment was purchased on September 6, 2019. On September 20,
2019, Payne paid $5,600 for installation and testing of the
equipment. The equipment was ready for use on October 1, 2019.
Payne estimates that the equipment's useful life will be...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...
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