Ngo Company purchased a truck for $54,000. Sales tax amounted to $5,400; shipping costs amounted to $1,200; and one-year registration of the truck was $100. What is the total amount of costs that should be capitalized? A. $60,600 B. $66,100 C. $54,000
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- 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?You have just bought a new pusher dozer for your equipmentfleet. Its cost is $100,000. It has an estimated servicelife of four years. Its salvage value is $12,000.a. Calculate the depreciation for the first and second yearusing the straight-line and DDB methods.b. The IIT components of ownership cost based on averageannual value are:Tax: 2%Insurance: 2%Interest: 7%What cost per hour of operation would you charge tocover IIT?(v) Depreciation charged in costing books is 12,500 and in financial books is 11,200. What will be the financial profit when costing profit is ? 5,000? A. 5,000 B. १3,700 C १6,300 D. None of the above (vi) A bus carries 25 passengers daily for 25 days and its mileage per month is 2,000 kms. Its passenger kms. are A. 60,000 B. 25,000 C. 40,000 D. 50,000
- A commercial company bought 250 units of a certain material at a price of 50,000 dinars per unit, and the purchase expenses were until the material reached the company's stores Commission expebses=1250000 Tax expenses=1875000 Transportation, loading and unloading expenses=900000 Insurance expenses=600000 it is required to calculate the cost of the material purchased10. Batangas State University is purchasing a new queuing system for its service improvement in Registrar’s office. The table that follows list the relevant cost itemsfor this purchase. The operating cost for the new system is expected to be five (5years). The salvage value for depreciation purposes is equal to 25% of the hardwarecost. Cost item CostHardware $160,000Training $15,000Installation $15,000 a. What is the book value of the device at the end of three years if the straight linemethod (SLM) is used?b. Supposed that after depreciating the device for two (2) years with the SLM,the firm decides to switch to the double-declining balance depreciationmethod for the remainder of the device’s useful life. What is the device’s bookvalue at the end of four years?The ML Company imported a new machine at a peso equivalent of $1,320,000. The company has to pay additional cost of importing the asset such as $40,000 import duties and $60,000 non-refundable purchase taxes. Costs of transporting the asset was $20,000 and cost of preparing the asset for its intended use include $12,000 installation and $8,000 testing and trial run costs. How much is the initial cost of the new machine?
- Q2. Swagelok Enterprises is a manufacturer of miniature fittings and valves. Over a 5-yearperiod, the costs associated with one product line were as follows: first cost of $20,000, andannual costs of $18,000. Annual revenue was $26,000 and the used equipment was salvagedfor $4,000. What rate of return did the company make on this product? The rate of return that the company made on the product is %.ABC Co purchased an equipment from Hongkong for P100,000. Additional cost included the following: Broker's commission P5,000 Import duties P30,000 Freight on purchase P1,000 Installation cost P3,500 Testing of equipment prior to use P5,000 Promotion and advertising cost of the new product to be processed in using the new equipment, P8,000 Samples generated from testing the equipment were sold for P500. How much is the initial cost of the equipment? a. 100k b. 144k c. 144,500 d. 152k PPE intermediate accountingABC Co purchased an equipment from Hongkong for P100,000. Additional cost included the following: Broker's commission P5,000 Import duties P30,000 Freight on purchase P1,000 Installation cost P3,500 Testing of equipment prior to use P5,000 Promotion and advertising cost of the new product to be processed in using the new equipment, P8,000 Samples generated from testing the equipment were sold for P500. How much is the initial cost of the equipment? 100,000 144,000 144,500 152,000
- A new piece of equipment costs $30,000. The company can get $1,000 for trading in their old machine. Follow is financial data relevant to the new machine: $10,000 revenue; $4,000 cash expenses; useful life 6 years; depreciation expense $1,500 per year. The required investment is: O $29,000 $30,000 $28,500 $27,500The Washington Company incurred N$50 000 to ship 22 000 litres and N$42 000 to ship 18 000 litres. If the company ships 20 000 litres, its expected shipping expense would be closest to:A company is going to buy a new equipment for manufacturing itsproduct. Four different equipment’s are available; costs, operating and otherexpenses are as follows:Equipment A B C DFirst Cost Php 24,000 Php 30,000 Php 49,600 Php 52,000Power per year Php 1300 Php 1360 Php 2400 Php 2520Labor per year Php 10,600 Php 9320 Php 4200 Php 2700Maintenance/year Php 2800 Php 1900 Php1300 Php 700Taxes & Insurance 2% 2% 2% 2%Life; years 5 5 5 5 Money is worth 10% before taxes to the company. Which equipment shouldbe purchased ? Choose which method is applicable.