Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. see help save & exit submit check my work 2 0.

See Help Save & Exit Submit Check my work 2 0.66 Southwest Milling Co purchased...

70.2K

Verified Solution

Question

Accounting

image
See Help Save & Exit Submit Check my work 2 0.66 Southwest Milling Co purchased a front-end loader to move stacks of sumber. The loader had a list prke of $115,830. The seller agreed to allow a 6.00 percent discount because Southwest Miling paid cash. Delivery terms were FOB shipping point Transportation cost amounted to $2,120. Southwest Milling had to hire a specialist to calibrate the loadet. The specialist's fee was $1200. The loader operator is paid an annual salary of $27.500 The cost of the company's the insurance policy increased by 51530 per year as a result of acquiring the loader. The loader had a four year useful life and an expected salvage value of $5300 Required Determine the amount to be capitalized in an asset account for the purchase of the front end loader (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign) Han wce Coute that are to be copied List price Add: Discount Total coste

Answer & Explanation Solved by verified expert
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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students