Purchased equipment for $15,000 in cash. please show solution
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Purchased equipment for $15,000 in cash.
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- Bought delivery truck on cash for $17000 what would be credited?The following data are accumulated by Waiola Company in evaluating the purchase of $120,000 of equipment, having a 4-year useful life: Year Net Income Net Cash Flow Year 1 $45,000 $75,000 Year 2 28,000 58,000 Year 3 19,500 49,500 Year 4 (7,000) 37,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Assuming that the desired rate of return is 6%, determine the net present value for the proposal. If required, round to the nearest dollar.Net present value fill in the blank 1 of 1$Blossom Company incurs these expenditures in purchasing a truck: cash price $20,000, accident insurance (during use) $1,500, sales taxes $1,100, motor vehicle license $200, and painting and lettering $1,600.What is the cost of the truck? The cost of the truck $Enter a dollar amount
- Answer is c. $125,000 Please explain the reasoning and calculationsA machine with a cost of $146,000, accumulated depreciation of $93,000, and current year depreciation expense of $21,000 is sold for $46,400 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $46,600. $6,600. $21,000.Which of the following equation will allow you to solve for the ROR for the following cash flow? If the file failed to load, click https://www.dropbox.com/s/nuxqnt15nak2kdc/ROR-FE1.jpg Year 0 1 2 3 4 5 Cash Flow $15,000 0 $2,500 $5,000 $7,500 $10,000 O 15,000 2500(P/A, i*, 5) + 2500 (P/G, i*, 5) O 0= 15,000 + 2500(P/A, i*, 5) + 2500 (P/G, i*, 5) O 15,000 = 2500(P/G, i*, 5) O 0 15000 + 2500(P/G, i*, 5) O 15,000 2500(P/A, i*, 4) + 2500 (P/G, i*, 4) O 0 = 15,000 + 2500(P/A, i*, 4) + 2500 (P/G, i*, 4)
- DD Company purchases a delivery truck at a cash price of Rs=840,000. Related expenditures are sales taxes Rs= 26,400, painting and lettering Rs=10,000, motor vehicle license Rs= 1200, and a three-year accident insurance policy Rs=30,000. Compute the cost of the delivery truck?A machine with a cost of $143,000 and accumulated depreciation of $98,000 is sold for $56,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $11,500. $45,000. Zero. This is a financing activity.Please answer this question. Prepare a journal entry for purchasing a AFS security for $150000.
- Choose the correct.A purchase order for $3,000 is recorded in the general fund for the purchase of a new computer. The computer is received at an actual cost of $3,020. Which of the following statements is correct?a. Machinery is increased in the general fund by $3,020.b. An encumbrance account is reduced by $3,020.c. An expenditure is increased by $3,020.d. An expenditure is recorded for the additional $20You have entered into an agreement for the purchase of land. The agreement specifies that you will take ownership of the land immediately. You have agreed to pay $50,000 today and another $50,000 in three years. Calculate the total cost of the land today, assuming a discount rate of (a) 5%, (b) 7 %, or (c) 9%. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Payment Amount $ 50,000 50,000 50,000 Interest Rate 7 5% 7% 9% Answer is complete but not entirely correct. Compounding Annually Annually Annually Period Due 3 years 3 years 3 years $ Total Cost of Land Today 93,121.25 X 90,816.30✔ 88,617.30The following costs pertain to a new delivery truck that was purchased on March 31, 2020. All costs were paid in cash. Calculate how much the truck will be capitalized as an asset for the truck. How much will be expensed? You are not required to prepare a journal entry. Cost of Truck $30,000 Delivery charges $1,300 Ongoing gasoline purchases each week $ 200 Sales Tax $2,100
