Ahrens Industries purchased a new machine on October 31, 2020. A $2,400 down payment was made and three monthly installments of $7,200 each are to be made beginning on November 30, 2020. The cash price would have been $23,200. Ahrens paid no installation charges under the monthly payment plan but a $400 installation charge would have been incurred with a cash purchase. What is the amount to be capitalized as the cost of the machine on October 31, 2020

Answers

Answer 1

Based on the information given the amount to be capitalized as the cost of the machine on October 31, 2020 is $23,600.

Using this formula

Capitalized amount=Cash price  + Installment charges

Where:

Cash price=$23,200

Installment charges=$400

Let plug in the formula

Capitalized amount=$23,200+$400

Capitalized amount=$23,600

Inconclusion the amount to be capitalized as the cost of the machine on October 31, 2020 is $23,600.

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Related Questions

How will an employee know whether or not their employment is a contract or at will

Answers

Good question. If you have not signed an at-will agreement, check your employee manual or other written workplace policies.For example, if you have a two-year contract that states you can be fired during the contract term only for committing a crime, then you are not an at will employee.

joe has cash in a savings account totaling $7,500, and his monthly expenses are $2,500. what is his emergency fund ratio?

Answers

Based on the information given his emergency fund ratio is 3.

Using this formula

Emergency fund ratio=Amount saved/Monthly expenses

Where:

Amount saved=$7,500

Monthly expenses=$2,500

Let plug in the formula

Emergency fund ratio=$7,500/$2,500

Emergency fund ratio=3

Inconclusion  his emergency fund ratio is 3.

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Which of the following most directly made possible the ideas described in the excerpt? The emergence of monopolies that dominated entire businesses Answer A: The emergence of monopolies that dominated entire businesses A Innovations including textile machinery, steam engines, and interchangeable parts Answer B: Innovations including textile machinery, steam engines, and interchangeable parts B Farmers’ creation of local, regional, and national organizations that resisted corporate power Answer C: Farmers’ creation of local, regional, and national organizations that resisted corporate power C The significant influence of organized labor unions

Answers

Answer:

innovations including textile machinery, steam engines, and interchangeable parts

Explanation:

Through innovations like textile technology, steam engines, and interchangeable parts, monopolies that controlled the entire industry began to form.

What is a monopoly?

Monopoly is when there is little to no competition and consumers are compelled to purchase a specific good or service from one company when one business and its product dominate an entire industry.

Monopolies are prohibited in free-market systems because they restrict customer options and reduce competition. A monopoly limits the range of available product options and makes it challenging for competitors to enter the market. Monopolies could lead to unethical corporate practices. Certain monopolies, such as those in the power industry, are subject to government regulations.

Antitrust laws are in place in the US to prevent monopolies and ensure that one business cannot control a market and use that control to exploit its customers.

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If there are not enough jobs for everyone in the economy/the demand for jobs are higher than
the amount of jobs available
A. Cyclical Employment
B. Frictional Employment
C. Structural Employment

Answers

Involuntary unemployment which is caused by the economic health of a country, such that the amount of jobs available cannot cater for the number of populees is called cyclic unemployment.

Cyclic unemployment is usually attributed to the strength of the economy, when the number of jobs available cannot accomodate the demand. This is usually witnessed during period of recession and economic decline.

Structural unemployment result from the difference in skill gaps of the employees and the skill demand of a job.

Frictional unemployment result from the job change and hence are tagged as voluntary.

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Property received through a contribution is to be recognized at its fair market value and offset with a credit entry to a: Additional Paid-in Capital account. Contribution Revenue account. Miscellaneous Gain account. Paid-in Capital account.

Answers

Answer:

additional paid in capital accound

The entry to record the issuance of 100,000 shares of $0.10 par value common stock for $10 per share is debit ______.

Answers

The entry to record the issuance of 100,000 shares of $0.10 par value common stock for $10 per share will be:

Debit Cash for $1,000,000.Debit common stock $10000Debit Additional paid-in-capital $990000.

Based on the information given in the question, the amount that will be calculated for cash will be:

= 100000 × $10

= $1000000

Common stock will be:

= 100000 × $0.10

= $10,000

Additional paid in capital will be:

= $1,000,000 - $10,000

= $990,000

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What other options does an employer have other than terminating an employee?

Answers

Anything Something as simple as moving the employee to another position, altering their current position, or providing continued learning to build their skill set could resolve the issue. It may sound simple, but sitting down with your employee to discuss an issue of poor performance could be enough to change their course.

When a company guarantees the payment of debt owed by a supplier, customer or another company, the guarantor usually discloses the guarantee as a

Answers

Answer:

Contingent

Explanation:

Under corporate guarantee, company promises that a client, supplier, or other entity will pay a debt, the guarantor typically identifies the guarantee as a contingent guarantee.

What is corporate guarantee?

A corporate guarantee is a contract between a borrower, lender, and guarantor wherein, in the event that the borrower files for bankruptcy, an outside insurance firm assures entire responsibility for the repayment of the loan.

A deed of guarantee and indemnification is a sort of legally enforceable agreement in which a third party agrees to carry out the obligations of another party. It is contingent in nature treated as out of balance sheet item.

Therefore there is only a probable obligation on the company to pay off the debts of principal debtor which is contingent in nature.\

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the two conflicting tendencies that a firm has in an oligopolistic industry are

Answers

cooperate to maximize joint profits and the incentive to cheat on the agreement in order to increase the firm"s share of the profit.

suppose that a small-town theater has six potential customers and is looking to implement price discrimination depending on when customers want to attend. suppose the marginal cost of serving an additional customer is $1.50. the data provide information about the time of attendance and willingness to pay for a ticket.

Answers

Based on the information that can be gotten from the question, the price that should be charged by the theater for the matinee ticket will be $7.

From the complete information, when the price is $4 and the 3 customers enjoy the movie, the profit will be:

= ($4 - $1.5) × 3

= $2.5 × 3

= $7.5

Now, let's assume that the price charged is $7 and 2 customers enjoy the movie, the profit will be:

= ($7 - $1.5) × 2

= $5.5 × 2

= $12

Now, when the price is $12 and only 1 customer enjoyed the movie, the profit will be:

= ($12 - $1.5) × 1

= $10.5

It can be depicted that the profit of the theater will be at maximum when the price that is charged is $7.

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As chief financial officer, you want to send the fourth quarter profit/loss spreadsheets to the president of the company. How can you send the report without worrying about someone else accessing it

Answers

The chief financial officer can send the Financial report without worrying that someone else will access it by encrypting the report, with accessible key only known by the chief financial officer and President.

Usually, there are situation when a third party (like the President assistant) can assess his mails through delegation , therefore, the chief financial officer needs to ensures the financial report are not accessible by him

Therefore, the chief financial officer can send the Financial report without worrying that someone else will access it by encrypting the report, with accessible key only known by the chief financial officer and President.

In conclusion, encryption of the financial report is the best way to ensure others does not have access to it.

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Which paste option should she use?

Answers

Answer:

Destination Theme and Link Data

Explanation:

Answer:

What she said

Explanation:

Private and public sector organizations that must follow HIPAA provisions are called ____________________.

Answers

Answer:

covered entities

Explanation:

contributed capital of $1,000,000 is found in the ______ section of the ______.

Answers

Answer:

Here is Your Answer

contributed capital of $1,000,000 is found in the stockholders equity section of the Balance sheet

what is the maximum number of characters allowed in the account number field?

Answers

Answer:

The following is a list of the maximum number of characters (letters, numbers and so on) that you can enter in the fields specified: Account Name: 31 Account Numbers: 7 Amount: 99,999,999.99 (Maximum number allowed)

Explanation:

What factors do you think result in the relationship between neighborhood demographics and the cost of an overdraft fee? Explain your reasoning

Answers

The factors which result in the relationship between neighborhood demographics and cost of an overdraft fee is the number of people living in the location.

Neighborhood demographics refers to the details of people living in a specific states, city or town.

The overdraft fee refers to the service fees that are charged by banks for customers uses of its overdraft service.

The overdraft fee of banks in different location might varies because of the numbers of banks users in the location.

If the bank users in the location are high, the cost of overdraft fee may be set at low price because of the number advantage.

Therefore, the factors which result in the relationship between neighborhood demographics and cost of an overdraft fee is the number of people living in the location.

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A moment of truth occurs when employees and ________ have contact. Group of answer choices Skill Customer Product Place

Answers

Answer:

Customer.

A moment of truth occurs when employees and the customer have contact.

I hope this helped at all.

clarisse wants to pick up her new air fryer at target. the air fryer had been out of stock, but customer service assured clarisse that she could pick it up on tuesday after 1 pm. what do target employees use to ensure the air fryer will be in stock at the store and ready for pick up?

Answers

Mobile Task Manager (MTM) is simply known to be well customize application or software. Target employees will make use of mobile task management technology to ensure the airfryer will be in stock at the store and ready for pick up.

The Mobile Task Manager is known to assist or helps engineers and property team members to manage service request and also work order and preventative maintenance tasks on the fly or easy way.

It is said to have new features to improve functionality and its use.

A project management software also as a mobile app helps one to view one's software from your mobile device from anywhere at any time.

The full question is below

Clarisse wants to pick up her new air fryer at target. the air fryer had been out of stock, but customer service assured clarisse that she could pick it up on tuesday after 1 pm. what do target employees use to ensure the air fryer will be in stock at the store and ready for pick up. What do Target employees use to ensure the airfryer will be in stock at the store and ready for pick up?

O product development software

O mobile task management technology O advanced shipping notices fulfillment centers

O routing systems

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The name of the Department that is primarily involved in the sourcing, screening and hiring of personnel is:

Answers

Answer:

Explanation:

Hr

Robert makes $951 gross income per week and keeps $762 of it after tax withholding. How many allowances has Robert claimed? For weekly income between 950 and 960, the number of withholding allowances claimed are: 0, 259 dollars; 1, 242 dollars; 2, 224 dollars; 3, 207 dollars; 4, 189 dollars; 5, 173 dollars; 6, 162 dollars; 7, 151 dollars; 8, 140 dollars. A. One b. Two c. Three d. Four Please select the best answer from the choices provided A B C D.

Answers

Answer:D

Explanation:

Answer:

D

Explanation:

At a recent soccer tournament, a local beer distributor gave free coolers to all adults with a paid admission. What is this an example of

Answers

Answer:

Sales promotion

Explanation:

At a recent soccer tournament, a local beer distributor gave free coolers to all adults with a paid admission is sales promotion mix activity.

What is Promotion mix?

To accomplish a certain marketing objective, a promotional mix combines marketing strategies such as direct marketing, sales, public relations, and advertising.

Public relations, personal selling, sales promotion, and advertising make up the promotion mix's four main components.

Whereas a transitory campaign or offer is used by a company as part of a sales promotion to raise interest or demand in its product or service. A company may decide to utilize a sales promotion (or "promo") for a variety of reasons, but the main one is to increase sales.

Thus local beer distributor use sales promotion mix strategy.

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A certain manufacturing process might 5 hours in the best-case scenario, 7 hours in the most likely situation, or 10 hours under the worst possible circumst
approximately the most realistic duration the process might take according to PERT?
OA.
5 hours
OB.
6 hours
OC. 7 hours
OD. 8 hours

Answers

Answer:

i think its 6 hours

Explanation:

Groups of employees from different departments who work together on a long- term basis are called ______________________________________________.

Answers

Answer:

cross-functional teams

Explanation:

True or false: The key to success for companies in a capitalist economy is to remain inflexible during times of change.

Answers

It is false that the key to success for companies in a capitalist economy is to remain inflexible during times of change.

This is because times of change often involve changes in technology or customers' tastes. Any company that refuses to yield to change in technology or consumer taste risks the chance of remaining stagnant in the market.

Not only that, when a company remains inflexible during times of change, such a company tends to lose many customers.

For example, the failure of Nokia to use android early in its mobile phone product due to technological change cost them losing many customers.

Hence, in this case, it is concluded that the correct answer is False.

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to file your federal and state taxes you ____________

Answers

Taxes are often paid to government from our income. To File a Federal and State Income Tax Return, one must first need to find out how much money made the previous year. Then one need to decide if to take the standard deduction or itemize your return. Finally, you'll need to submit everything.

Steps to take so as to File a Tax Return

Try and compile your paperwork, including A W-2 form from each employer, other earning and interest statements etc.

Then one need to Choose your filing status. Filing status is often based on if you're married. The percentage you pay toward household expenses also affects your filing status.

The individual has to decide how you want to file your taxes. The IRS often recommends using tax preparation software to e-file for the easiest and most accurate returns.

Find out if one is taking the standard deduction or itemizing your return.

If an individual owe any money, learn how to make a tax payment and also apply for a payment plan.

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Answer:

must prepare the same tax forms for both

Explanation:

trust (i did this quiz 4 times thru to get the right answer)

_____ is part of the ________ process and occurs when the company is trying to increase its inventory.

Answers

Considering the accounting principles, the Make-to-stock; is part of the production process and occurs when the company is trying to increase its inventory.

This is because Make to Stock, otherwise referred to as MTK, is a method business owner often use to ensure the product is readily available and delivered at the point of purchase.

Make to Stock is a traditional method of production that is carried out in the hope that consumers will soon come and buy the products. Thereby, the company produces huge products at a given time and stores them as inventory.

Hence, in this case, it is concluded that the correct answer is "Make to stock; production, " respectively.

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All of the following can be associated with asset-backed securities except A) the securitization of assets. B) minimal risk. C) pooling individual assets into larger financial securities to be sold to investors. D) expected cash flow from credit card debt, leases, auto loans, and mortgages.

Answers

Answer:

B-minimal risk

If labor is the only variable input and it costs $15 per hour and if the marginal product of labor is 3 units per hour, the short-run marginal cost of 1 unit of output is approximately $0.20 Answer A: $0.20 A $3.00 Answer B: $3.00 B $5.00 Answer C: $5.00 C $15.00 Answer D: $15.00 D $45.00

Answers

Based on the information given  the short-run marginal cost of 1 unit of output is approximately $5.00.

Using this formula

Marginal cost=Change in cost/Change in quantity

Where:

Change in cost=$15 per hour

Change in quantity=3 units per hour

Let plug in the formula

Marginal cost=$15/3

Marginal cost=$5.00

Inconclusion  the short-run marginal cost of 1 unit of output is approximately $5.00.

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what method is recommended for a weekly review of the tasks on your to-do list?

Answers

Answer:

Delete it, Do it now, or Defer it.

Explanation:

The three D method is recommended for a weekly review of the tasks on your to-do list which includes Delete it, Do it now, or Defer it.

What is the importance of a weekly review of the tasks?

The importance of weekly review of the tasks plays a significant role in an individual's improvement and growth. It enables people to get ready for the upcoming week. To ensure that everything is completed correctly, it is also used to prioritize your activities.

A chance to proactively influence your life is presented through a weekly evaluation. It's an opportunity to be in alignment with your objectives and make sure that the everyday work you conduct is advancing those objectives.

The three D methods involve deleting the completed task after evaluating them and preparing a schedule for the upcoming task and marking them on the priority list in order to complete it in a timely.

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In most cases, the reason products cost relatively little in one country and cost more in another is the Group of answer choices profiteering measures taken by exporting companies. consistency in perception of quality in all countries. inelastic demand of most consumer goods. requirement that all export goods must use set skimmed price. higher costs of exporting.

Answers

The main reason why cost of product is little in one country and more in another is because of

profiteering measures taken by exporting companies.higher costs of exporting.

Cost of exportation of goods, taxes, original product cost, Profit measures are all part of reasons why exported goods are more higher in cost when compared to the cost in producing country.

The company who imported the product will ensure its makes profiton the sales and also, the cost of moving the product into the country are usually high, therefore, they all contributed to the high cost

Therefore, the Option A and E is correct because profiteering measures taken by exporting companies and higher costs of exporting contributes to the higher cost of exported products

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