Business, 31.05.2020 00:02 alvalynnw

Splish Brothers Inc. purchased factory equipment with an invoice price of $80,300. Other costs incurred were freight costs, $1,470; installation wiring and foundation, $2,130; material and labor costs in testing equipment, $990; oil lubricants and supplies to be used with equipment, $900; fire insurance policy covering equipment, $1,780. The equipment is estimated to have a $5,000 salvage value at the end of its 10-year useful service life.

Instructions:

a) Compute the acquisition cost of the equipment. Clearly identify each element of cost.

b) If the straight-line method of depreciation was used, the annual rate applied to the depreciable cost would be .

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 18:00

In which job role will you be creating e-papers, newsletters, and periodicals?

Answers: 1

Answer

Business, 23.06.2019 02:10

Which of the following best explains the purpose of a supply schedule? a. to calculate how much time it takes for distribution. b. to indicate how supply and demand relate to price. c. to show the relationship between quantity supplied and prices. d. to demonstrate how the supply decreases as price increases.

Answers: 1

Answer

Business, 23.06.2019 10:00

If a business is in need of working capital, one option is to use a(n) that will buy the company's account receivables and then handle their collection for a fee.

Answers: 2

Answer

Business, 23.06.2019 11:50

Iceberg storage, a leading hard drive manufacturer, recently filed for bankruptcy. while most of iceberg's competitors were shifting away from physical data storage devices toward online cloud storage services, iceberg invested most of its retained earnings in the effort to improve its hard drives. once the hard-drive market drastically declined, iceberg storage was unable to capitalize on the new technology. which of the following does this scenario best illustrate a. causal ambiguity b. knowledge diffusion c. social complexity d. path dependence

Answers: 2

Answer

You know the right answer?

Splish Brothers Inc. purchased factory equipment with an invoice price of $80,300. Other costs incur...

Questions