Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

Problem1. The University took delivery of the microcomputer and printer on 1 July 2008, the beginning of its financial year. The list price of equipments was Rs 99,980 but the University was capable to negotiate a price of Rs 80,000 with supplier. But, the supplier charged an additional Rs 6,800 to install and test equipments. The supplier offered a 5% discount if the University paid for the equipments and additional installation costs in seven days. The University was capable to take advantage of this additional discount. The installation of special electrical wiring for the computer cost Rs 2,200. After initial testing certain modifications costing Rs 3,980 proved essential. Staffs were sent on special training courses to operate the microcomputer and this cost Rs 19,800. The University insured the machine against fire and theft at cost of Rs 980 per annum. A maintenance agreement was entered in with Clarke Insurance Ltd. Under this agreement Clarke Insurance Ltd promised to provide 24 hour breakdown cover for 1 year. The cost of the maintenance agreement was Rs 7,000.
Required:

problem1. Evaluate the acquisition cost of the microcomputer to University.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M94356

Have any Question? 


Related Questions in Financial Accounting

Assignment business plan - finalthis assignment consists of

Assignment: Business Plan - Final This assignment consists of two sections: your final business plan and your business plan financials. Note: You must submit both sections as separate files for the completion of this ass ...

Assignmentbullnote some of the assessments in this course

Assignment • Note: Some of the assessments in this course build upon each other, so you are strongly encouraged to complete them in the order in which they are presented. For this assessment, you may use Word or Excel to ...

Assignmentfinancial statement analysisprepare an eight- to

Assignment Financial Statement Analysis Prepare an eight- to ten-page fundamental financial analysis (excluding appendices, title page, abstract, and references page) that will cover each of the following broad areas bas ...

Module problem-solution assignmentproblem 1brogan inc

Module Problem-Solution Assignment: Problem 1 Brogan, Inc., reports bad debt expense using the allowance method. For tax purposes the direct write-off method is used. At the end of the current year, Brogan has accounts r ...

The market environment heavily influences corporate

The market environment heavily influences corporate decision-making ability. Identify the differences in executive decisions concerning pricing, product design, and advertising between a company in a competitive market a ...

Martin-pullin bicycle corp mpbc located in dallas is a

Martin-Pullin Bicycle Corp. (MPBC), located in Dallas, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by cousins Ray Martin and Jim Pullin, the firm's primary retail outlets are located within a ...

Assignmentjacksoncounty judges try thousands of cases per

Assignment JacksonCounty judges try thousands of cases per year. In an overwhelming majority of the cases disposed, the verdict stands as rendered. However, some cases are appealed, and of those appealed, some of the cas ...

Financial acounting assignmentcompanies1-oula fuel

FINANCIAL ACOUNTING ASSIGNMENT Companies: 1- Oula fuel marketing co 2- Kuwait resort company http://www.boursakuwait.com.kw/Stock/Financials.aspx?Stk=651&S=INC 1. Revenue Recognition Revenue is the largest item on the in ...

Assignmentscenarioyou are a first year staff person working

Assignment Scenario You are a first year staff person working with a multidiscipline team to report on a potential company your firm is considering to invest in. The president of your company will review your team's writ ...

Todays workforce is increasingly made up of part-time or

Today's workforce is increasingly made up of part-time or contingent employees. Is organizational culture important if the workforce is comprised of mostly temporaries

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro