Business, 03.01.2020 00:31, inucornspineapple

During year 1, ashkar company ordered a machine on january 1 at an invoice price of $25,000. on the date of delivery, january 2, the company paid $9,000 on the machine, with the balance on credit at 11 percent interest due in six months. on january 3, it paid $600 for freight on the machine. on january 5, ashkar paid installation costs relating to the machine amounting to $2,800. on july 1, the company paid the balance due on the machine plus the interest. on december 31 (the end of the accounting period), ashkar recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $3,100.a. compute the acquisition cost of the machine. b. compute the depreciation expense to be reported for year 1.c. what would be the net book value of the machine at the end of year 2?

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:00, vpoon6739

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

Answers: 1

continue

Business, 22.06.2019 15:10, emilee30

You want to have $80,000 in your savings account 11 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. if the account pays 6.30 percent interest, what amount must you deposit each year? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

Answers: 1

continue

Business, 22.06.2019 16:10, ilovemusicandreading

The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be:

Answers: 1

continue

Business, 22.06.2019 17:30, neriah30

Fabian got into an accident on his way to work. he had multiple fractures in his leg. his doctor advised strict bed rest for at least three months. fabian is a freelance wildlife photographer who usually works on a contract basis, and this is his primary source of income. before the accident, fabian was planning his finances. which goal of his financial plan would fabian in getting through without pay for the next three months? the goal that requires the creation of a/an would fabian get through the next three months without pay.

Answers: 1

continue

Do you know the correct answer?

During year 1, ashkar company ordered a machine on january 1 at an invoice price of $25,000. on the...