Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. adjusting journal entry using activity based metho

Adjusting Journal Entry using Activity based method: Purchased Machinery $10,000. Costs associated with the purchase are: freight-in...

80.2K

Verified Solution

Question

Accounting

Adjusting Journal Entry using Activity based method:

Purchased Machinery $10,000. Costs associated with the purchaseare: freight-in costs of $300, and construction of specializedplatform to hold the machine, $500. All amounts are paid with cash.Estimated useful life is 20,000 machine hours, with a $1,000Salvage Value.

Answer & Explanation Solved by verified expert
4.0 Ratings (453 Votes)
The answer is attached along with an example to    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

Adjusting Journal Entry using Activity based method:Purchased Machinery $10,000. Costs associated with the purchaseare: freight-in costs of $300, and construction of specializedplatform to hold the machine, $500. All amounts are paid with cash.Estimated useful life is 20,000 machine hours, with a $1,000Salvage Value.

Other questions asked by students

Q

Based on data from a? college, scores on a certain test are normally distributed with a...

Basic Math
Q

Peristalsis: Have you ever laughed so hard that you had your drink come out of your...

Medical Sciences
Q

Suppose a tunnel is made in earth which passes through its centre If an object...

Physics
Q

Given a real object in the form of a square. In an image, the object...

Geometry
Q

Perpetual inventory using FIFO Beginning inventory purchases and sales for Item Zeta9 are as follows...

Basic Math
Q

2 A Evaluate the absolute value expression 3x x x B Solve the absolute value...

Algebra
Q

Question 1 of 6 Step 1 of 1 Find the mean median and mode of...

Algebra
Q

Vintage Company reports the following information. Compute product cost per unit under variable costing....

Accounting
Q

Current Attempt in Progress Presented below are the financial statements of Blossom Company. (a)...

Accounting
Q

* Question 8 1 Point Which of the following would be correctly classified as an...

Accounting
Q

Atlanic City Corporation reported net income of $148,750 for 2019. The company had 10,000 shares...

Accounting
Q

Explain what is meant by the term Arbitrage and why the idea of markets being...

Finance