The acquisition of a new machine with a purchase price of $82,058, transportation costs of $7,947, installation costs of $5,554, and special acquisition fees of $2,127, would be journalized with a debit to the asset account for
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The acquisition of a new machine with a purchase price of $82,058, transportation costs of $7,947, installation costs of $5,554, and special acquisition fees of $2,127, would be journalized with a debit to the asset account for
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- The acquisition of a used machine with a purchase price of $77,000, requiring an overhaul costing $8,000, installation costs of $5,000, and special acquisition fees of $3,000 would be journalized with a debit to the asset account for?The acquisition of a new machine with a purchase price of $80,545, transportation costs of $9,221, installation costs of $6,311, and special acquisition fees of $2,597, would be journalized with a debit to the asset account for Oa. $80,545 Ob. $89,453 Oc. $86,856 Od. $98,674The acquisition of a used machine with a purchase price of $43,163, requiring an overhaul costing $9,311, installation costs of $4,642, and special acquisition fees of $4,875, would be journalized with a debit to the asset account for Ca. $61,991 Ob. $80,819 c. $52,474 Od. $43,163
- Prepare the journal entry to record TWO of the following scenarios. Please be sure to identify which scenarios you have selected. (a) Discarding of Machine #1: Original cost, $25,000; accumulated depreciation, $20,000. (b) Sale of Machine #2: Original cost, $50,000; accumulated depreciation, $35,000; sold for $18,000 cash. (c) Sale of Machine #3: Original cost, $75,000; accumulated depreciation, $65,000; sold for $4,000 cash.The acquisition of a used machine with a purchase price of $44,994, requiring an overhaul costing $9,118, installation costs of $4,677, and special acquisition fees of $31,965 would be journalized with a debit to the asset account for Oa. $54,112 0b. 590.754 O c. $136,514 O d. $44,994The acquisition of a used machine with a purchase price of $44,994, requiring an overhaul costing $9,118, installation costs of $4,677, and special acquisition fees of $31,965 would be journalized with a debit to the asset account for Oa. $54,112 0b. 590.754 O c. $136,514 O d. $44,994.Calculate the initial purchase price for an asset that has a book value of $34,800 and has total accumulated depreciation of $85,200.
- 4. Prepare journal entry on January 1, 2027 to record the return of the machinery to the lessor. Assume thefair value of the asset is P300,000The Zylo Corp. made a basket purchase of Land, Building, and Equipment for $6250000. The appraised value of each asset was listed as follows. Land at $1500000, Building at $3900000, and equipment at $1200000. Required: Calculate the cost assigned to each asset.Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at $157,040; land improvements are appraised at $58,890; and the building is appraised at $176,670. Allocate the total cost among the three assets and prepare the journal entry to record the purchase.
- Calculate the depreciation expense for an asset with the following details: Initial Cost: $50,000 Salvage Value: $5,000 Useful Life: 5 yearsRodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at $157,040; land improvements are appraised at $58,890, and the building is appraised at $176,670. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. Land Land improvements Building Totals Appraised Value 5 0 Percent of Total Appraised Value 0% Total Cost of Acquisition -Apportioned Cost Required 2 >White purchased land with a current market value of $144,000, a building with a market value of $18,000, and equipment with a market value of $18,000. Journalize the lump-sum purchase of the three assets purchased for a total cost of $170,000 in exchange for a note payable. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Land Building Equipment Notes payable