. . . . . . . . . . . . . . . . . . . $ 7‚000 Accounts receivable . . . . . . . . . . . . . . . . . . . 16‚500 Office supplies . . . . . . . . . . . . . . . . . . . . . . 2‚000 Trucks . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170‚000 Accumulated depreciation—Trucks . . . . . . . . 35‚000 Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75‚000 Accounts payable . . . . . . . . . . . . . . . .
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business. 2. business purchased supplies and carpet the amount of supplies 500 and the amount of carpet was $50 paid in cash 3. The advertising of business on cash of 200 4. The business collected loan from bank of 8000 5. The business purchased truck of 9000 in cash 6. Business purchased 100 computer systems of 60000. The business pay 30000 in cash and the rest of amount will after 3 week 7. Business purchased supplies of $500 and write on note that will return after the week 8. Business draw
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Chapter 9 Property Acquisition and Cost Recovery SOLUTIONS MANUAL Problems 39. [LO 1] Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $24‚500. In addition‚ Jose incurred the following expenses before using the van: shipping costs of $650; paint to match the other fleet vehicles at a cost of $1‚000; registration costs of $3‚200 which included $3‚000 of sales tax and a registration fee of $200; wash and detailing for $50; and an engine
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The Theory of the Firm The firm’s goal is to maximize profits‚ !. In order to do this it must decide what quantity of a good to produce given costs‚ technology and demand. A competitive firm is assumed to be able to sell as much as it wants at the market price without affecting price. So it takes price as exogenous (beyond it’s control) and does not worry about demand. In addition‚ for our purpose we’ll assume the firm operates efficiently‚ that is‚ whatever the level of production that the firm
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CHAPTER 10 SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 10-1 $27‚000 + $1‚400 + $10‚200 = $38‚600 BRIEF EXERCISE 10-2 |Expenditures | | | | | | | | | |Capitalization Period | |Weighted-Average Accumulated Expenditures | |Date | |Amount | |
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heavy-duty trucks and employs three drivers who either work day or night shifts. This report will cover fair remuneration for drivers‚ working hours‚ maximise earnings‚ profitability and effective control for the future of Longhaul Carriers. Fair remuneration for drivers Calculations:Drivers remuneration per round trip x Average number of round trips made per week / Average number of hours each round trip takes | Truck 1:500 x 4 =R2000/15=R133.33 p/h | Truck 2:450 x 7=R3150/10=R315 p/h | Truck 3:550
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insurances General and administrative expenses Occupancy and Utility costs Total operating expenses: Utility services Occupancy costs Depreciation Rent Interest expenses Parking lot Total Occupancy and Utility Expenses: Equipment depreciation Interest Cost of starting doing business Standard cost of investment in Indonesia including visa on arrival‚ corporate administration tariff‚ tax rates‚
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E10-3 1. Trucks 13‚900 Cash 13‚900 2. Trucks 18‚364* Discount on Notes Payable 1‚636 Cash 2‚000 Notes Payable 18‚000 *PV of $18‚000 @ 10% for 1 year = $18‚000 X .90909 = $16‚364 $16‚364 + $2‚000 = $18‚364 3. Trucks 15‚200 Cost of Goods Sold 12‚000 Inventory 12‚000 Sales Revenue 15‚200 4. Trucks 13‚000 Common Stock 10‚000
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Capital Expenditures by percentage of Total Capital Budget The 2 garbage trucks are 24.23% of the total capital budget. The 1 bulldozer is 19.39% of the total capital budget. The 3 riding mowers are 3.88% of the total capital budget. The activity center is 52.50% of the total capital budget. Vehicles Objective: The purchase of 2 garbage trucks‚ 1 bulldozer‚ and 3 riding mowers will replace equipment
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2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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