Installation costs totaled 12000 which included 4000 for, Ask an Expert

Accounting

Grab Manufacturing Co. purchased a ten-ton draw press at a cost of $180,000 with terms of 5/15 n/45. Payment was made within the discount period. Shipping costs were $4,600, which included $200 for insurance in transit. Installation costs totaled $12,000, which included $4,000 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the ten-ton draw press is:

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M990730

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Assignment 2 discussion questionthe finance department of a

Assignment 2: Discussion Question The finance department of a large corporation has evaluated a possible capital project using the NPV method, the Payback Method, and the IRR method. The analysts are puzzled, since the N ...

Question - alpha corp had 15000 of dividends in arrears for

Question - Alpha Corp. had $15,000 of dividends in arrears, for cumulative, non-participating preferred stock as of January 1, 2018.This value of dividends in arrears was for the fiscal years of 2016 & 2017. During the f ...

Question - vestorville company reported the following

Question - Vestorville Company reported the following results from last year's operations Sales 1,000,000 Variable expenses 300,000 Contribution margin 700,000 Fixed expenses 500,000 Net operating income 200,000 Average ...

Question - background info company a parent purchased 100

Question - Background info: Company A (parent) purchased 100% of the shares in Company B (subsidiary). Company B sold inventory on the 1/3/17 to Company A for $98,000. This inventory had cost Company B $69,000. by 30/6/1 ...

Question instructions - visit website of international

Question: Instructions: - Visit Website of International Financial Reporting Standards the material available for educational institutions. - Select one of the IFRS standards read it thoroughly. - Form a group of not mor ...

Question in each of the following scenarios prepare journal

Question: In each of the following scenarios, prepare journal entries, as necessary, or give proper accounting recognition. For each, tell why you made an entry or accounting recognition or why you did not. 1. Identify t ...

Question - how would the firm determine the cost

Question - How would the firm determine the cost effectiveness of purchasing the long term assets used by the firm over an extended period of time?

Question - explain legislation and statutory requirements

Question - Explain legislation and statutory requirements and industry codes of practice including(Australia): Consumer credit code Privacy act Credit act Financial transaction reports act Corporations act (including acc ...

Question -nbsp international chemical companys special

Question - International Chemical Company's special order also requires 1 000 kilograms of genatope, a solid chemical regularly used in the company's products. The current stock of genatope is 8 000 kilograms at a carry ...

Question - asset acquisition vs stock purchase fair value

Question - Asset acquisition vs. stock purchase (fair value is greater than book value) Assume the investor purchases the same assets in #24, but now assume that the cash purchase price is $21,000. The investor is willin ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert