Answer:
$117,417
Explanation:
Calculation to Determine the amount to be capitalized in the asset account
Costs that are to be capitalized:
List price $118,660
Less: Discount ($5,043)
($118,660*4.25%)
Freight cost $2,640
Specialist fee $1,160
Total costs $117,417
Therefore the amount to be capitalized in the asset account will be $117,417
September 19, 2020 because that is when the cake successfully delivered
Answer:
$17,000
Explanation:
The computation of the amount of the depreciation expense using the straight-line method is shown below:
= (Purchase value of an equipment - estimate salvage value) ÷ (useful life)
= ($90,000 - $5,000) ÷ (5 years)
= ($85,000) ÷ (5 years)
= $17,000
All other information which is given is not relevant. Hence, ignored it
Answer: Customer Satisfaction.
Explanation:
The car company aims at satisfying their customers, because the company is not really concerned about high sales, but in making sure that each car made available to the market meets the quality standard that the car company is known for. As more quality cars are produced, the more satisfied the customers would be.
Answer:
Explanation:
The preparation of the company’s income statement is presented below:
Home Realty, Incorporated
Income statement
Sales revenue $181,000
Less: Total expenses
Salaries and wages expense ($100,000)
Interest expense ($6,600)
Advertising expenses ($9,175)
Income tax expense ($18,800)
Net income $46,425
