At June 1, 2018 Billy’s Fitness Company purchased new exercise equipment for its facility.
The following information refers to the purchase and installation of this equipment:
• The list price of the equipment was $640,000 less a cash discount of 5%.
Billy’s Fitness Company paid sales taxes of $36,480 at the date of purchase.
• Transportation charges for delivery of the equipment totaled $2,200.
• Costs for installation and test runs to ready the equipment for customer use
amounted to $1,600.
• Normal maintenance costs for the exercise equipment in June 2018 were $875.
Requirement:
For each of the bulleted items above, indicate which items should be included by Billy’s
Fitness Company as a part of the total cost of its Exercise Equipment account. Also briefly
indicate the proper accounting treatment of those items that are not included in the cost of
the Exercise Equipment

Answers

Answer 1

An indication of the bulleted items that Billy's Fitness Company should include in the cost of the Exercise Equipment account is as follows:

Equipment's List Price = $608,000

Sales Taxes                         36,480

Transportation cost              2,200

Installation and testing         1,600

Total  costs                  $648,280

Thus, the costs of normal maintenance of the equipment in June 2018 should not be included in the Equipment Account but treated as expenses in the income statement.

Data Analysis:

Equipment's list priceless discount = $608,000 ($640,000 x(1 - 5%)

Cash Discount = $32,000 (5% x $640,000)

Sales taxes included = $36,480

Transportation charges = $2,200

Installation and testing costs = $1,600

Maintenance costs =$875

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Related Questions

Compare your results to the industry ratios and describe what NMC should do to improve its position in the market.

Answers

Answer:

sorry need points ok.

Explanation:

sorry talaga ha

pero wag kayong magalit

ayaw kasukowag kang magalitnever angry

An ______is a being, such as a person or company.

Answers

Cooperation would be the best answer, if not then try looking it up

In the IRA form of a simple retirement account, employer's can contribute as much as they want into the employee's simple retirement account, even though the employee's contribution is limited to $13,500.

True or False and why. Links verifying this would be appreciated.

Answers

Answer:

true and i took the test (:

Explanation:

I need help for this answer because i want to make sure if im correct or wrong. You will get 30 points for this​

Answers

The answer is option 4.

A double-entry accounting system is a system in which business transactions are recorded from dual aspects (from both the sides / aspects :- the receiver & the giver..the debit & the credit).

_____

RainbowSalt2222 ☔

Contingent liabilities are only recognized if they arise from past events. Group startsTrue or False

Answers

The question which asks if contingent liabilities are only recognized if they arise from past events is:

False

According to the given question, we are asked to see that we need to find out if contingent liabilities are only recognized if they arise from past events or whether there are other factors involved.

As a result of this, we can see that contingent liabilities has to do with a liability which can occur later in the future and which the finance can be adequately estimated or calculated, such as a potential lawsuit which could lead to an out of court settlement.

Therefore, the correct answer is False

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Why Does a Taxi To Gatwick Airport Make So Much Sense?

Answers

Answer:

Because se seen is very beautiful no te jode

Explanation:

If you go by car blalalal is more goood

how does it make sense

Bridger Ski Co. has developed a tract of land into a ski resort. The company has cut the trees, cleared and graded the land and hills, and constructed ski lifts. a. Should the tree cutting, land clearing, and grading costs of constructing the ski slopes be debited to the land account

Answers

Answer:

A. Yes

B. No

Explanation:

According to the question, option A, The tree cutting, and land clearing answer is yes, and for option B costs of constructing the ski slopes be debited to the land account the answer is NO.

What is the land account?

A land account organizes information on land value, usage, and cover in a consistent manner throughout time and space. This kind of information organization demonstrates the connections between environmental and economic processes as they occur throughout our planet.

A land account lays the groundwork for understanding Australia's land and aiding in improved decision-making. It serves as the basis for several additional accounts, including ecosystem accounts.

Using a land account, we can:

Monitor changes in vegetation and land cover and comprehend their timing and mechanisms; assess policies and programs to determine whether they are having the desired effect, and comprehend the effects of various land uses on the environment and the economy.

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I'm raising $15,000 until 12/27/2021 for collage funraiser. Can you help? ​

Answers

Answer:

how

Explanation:

A manager must make a decision on shipping. There are two shippers: A and B. Both offer a two-day rate: A for $530, and B for $521. In addition, A offers a three-day rate of $466 and a nine-day rate of $417, and B offers a four-day rate of $459 and a seven-day rate of $432. Annual holding costs are 37 percent of unit price. Three hundred and twenty boxes are to be shipped, and each box has a price of $154. Which shipping alternative would you recommend

Answers

Answer:

C.

Explanation:I just took the test.

The business case for why companies should act in a socially responsible manner includes such reasons as

Answers

because if we all act in a socially responsible manner we all can get this done faster, if we all work together we can do it.

James took out a fixed-interest-rate loan when the CPI was 200. He expected the CPI to increase to 206 but it actually increased to 204. The real interest rate he paid is: ___________

a. higher than he had expected, and the real value of the loan is higher than he had expected.
b. higher than he had expected, and the real value of the loan is lower than he had expected.
c. lower then he had expected, and the real value of the loan is lower than he had expected.
d. lower than he had expected, and the real value of the loan is higher than he had expected.

Answers

The answer for this question is b

James took out a fixed-interest-rate loan when the CPI was 200. He expected the CPI to increase to 206 but it actually increased to 204. The real interest rate he paid is higher than he had expected, and the real value of the loan is lower than he had expected. Option (b) is correct.

What do you mean by Value?

Values are the benchmarks or ideals by which we judge the acts, traits, possessions, or circumstances of others. Values that are embraced by many include those of beauty, honesty, justice, peace, and charity.

The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate (called the principal sum). The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.

The interest rate over a year is known as the annual interest rate. Other interest rates are applicable over shorter time frames, such a day or a month, but they are typically annualized.

Therefore, Option (b) is correct. Higher than he had expected, and the real value of the loan is lower than he had expected.

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Options for dealing with uncertainty include using safety ________. Inventory and demand Demand and stock Lead time and inventory Stock and lead time

Answers

When one experiences uncertainty in business, one way they can deal with it is by using safety stock and lead time.

Safety stock and lead time:

Allow for goods to arrive earlier than they normally would have so as to avoid delays Allows for goods to be stored to satisfy an unplanned increase in demand

By doing these things, safety lead time and safety stock ensure that a company can deal with stock uncertainty such that they will have enough to sell to people.

In conclusion, one can deal with uncertainty through the use of safety lead time and stock.

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What is defined as the human response to overstimulation?​

Answers

Answer:

In essence, stress is the human body's response to overstress.

Explanation:

During stress, the human body produces the hormone adrenaline, which makes you look for a way out. Stress in small amounts is necessary for everyone, because it makes us think, look for a way out of the problem, and in this case it has a positive value. But on the other hand, if stress becomes too much, the body becomes weaker, loses strength, the ability to solve problems and can cause serious illness.

Answer:

What is the definition of overstimulation?

English Language Learners Definition of overstimulate

: to cause (someone or something) to become too active or excited : to stimulate (someone or something) too much. See the full definition for overstimulate in the English Language Learners Dictionary. More from Merriam-Webster on overstimulate

Identify external dispute resolution mechanisms that could be employed to resolve industrial actions if it did eventuate

Answers

Based on the available alternative dispute resolution methods, the external dispute resolution mechanisms that could be employed to resolve industrial actions if it did eventuate is Arbitration.

Arbitration is a form of alternative dispute resolution method. It involves the arrangement in which the parties to the disputes, usually contracts, agree to submit issues to an approved independent expert to solve the problem.

The independent expert is known as the arbitrator, and because of his expertise, he is expected to solve the disagreement between the aggrieved parties.

The other method of external dispute resolution is known as litigation, which means settling in court.

Hence, in this case, it is concluded that the correct answer is arbitration and litigation.

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Make a list of information areas that the individuals who join foreign employment should know or understand.​

Answers

Answer:

Country can get lots of foreign currency as the remittance which can be used to establish industries in the country. Such industries provide job opportunities in the country. People who went overseas to work can learn different skills and technologies which can be beneficial for the development of our own country. Foreign employment reduces the unemployment problem of a country. It may help to develop international relations with other countries because the country has to do labour contract with other countries and embassies has to be established there.

Which of the following statements is true about taxes?
A)Taxes pay for schools first responders and roads.
B)Taxes pay toll road fees and office buildings.
C)Taxes are only collected by the federal government.
D)Taxes are only collected by state governments.

Answers

The statement that is true about taxes is that A. Taxes pay for schools first responders and roads.

Taxes simply means the compulsory levies that are paid by individuals and firms to the government. The revenue gotten from taxes is vital for the development of an economy.

Tax revenues can be used in providing infrastructural facilities and pay for schools first responders and roads. First responders include police, firefighters, paramedics, etc.

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Answer:

Your answer is: A)Taxes pay for schools first responders and roads.

Explanation:

What are the most important determinants of success in an interview? HELP ASAP ONLY RIGHT ANSWERS

A. Miscellaneous, Responsiveness
B. Responsiveness , Packaging
C. Responsiveness, Experienced
D. Packaging ,Experience

Answers

The most important determinants of success in an interview includes Responsiveness, Packaging, Experienced etc

Success in the context refers leaving a good impression to the interviewer and that one is capable to handling the job position applied for.

Some of the determinant that brings success in an interview includes:

Responsiveness: The act of responsiveness, verbal tone speaks much about the job applicant.

The packaging means the act of dressing smart.

Experienced refers to length of previous work experience possessd by job applicants

Therefore, the Option B, C and D is correct.

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Over the last three years, Christmas tree prices have increased from an average of $35 per tree to over $75 per tree. How would a Christmas tree farm and the overall industry respond to the price change under the following circumstances

Answers

The Christmas tree farm would respond by:

In the short run, producers are going to earn profits and also increase their supply of the product.

This is what usually happens whenever there is an increase in the prices of goods in the supply side of the market.

As the prices would go up, the producers would want to take advantage of the increases to make as much gain as they can from the market.

This is only short term profit. Therefore the supply is going to be inelastic. The demand is only going to available for a short while.

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16660 kronas how much is this in us dollars

Answers

Answer: 1,900.05 United States Dollar

Explanation:

Challenges of internship simulation workshop

Answers

Answer:

online payments

Explanation:

People often encounter different kinds of issues. Challenges of internship simulation workshop are:

It is difficult finding the right step and also the right talent.There is the issue of relocation, housing, and transportation issues.There is the challenge of understanding terms, finding right and fit wise talent.Difficulty in the level of comprehension among student.There is a an issue of small or the lack of awareness.

What is an internship simulation workshop?

This is a type of workshop that student are required to engage in. The workshop is know to be divided into modules.

It is aimed to expose students to the different realities of the world of work. This is done through simulations and scenario-based analysis where there is the application of concepts and theories which the student have learnt to practical situations.

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Research and find out about the changes in business sectors of Pakistan from 1947 to date. Give reasons for the changes you have identified. (10)

Answers

Answer:

Since Indian independence in 1947, the economy of Pakistan has emerged as a semi-industrialized one, the on textiles, agriculture, and food production, though recent years have seen a push towards technological diversification. ... Pakistan suffered its only economic decline in GDP between 1951 and 1952.

What is important team leaders training

Answers

Answer:

Team Leadership is a skills-based, practical training program that can be delivered face-to-face, virtually, or online. It's designed to give your team leaders the process, tools, and leadership skills they need to empower team members, improve productivity, and increase the success of your team initiatives.

write the interrelationship between education and profession​

Answers

Explanation:

in order to have a profession you need to get an education first ... if you start out working along side someone,that someone is giving you an education in how to do the job you want to do. if you are planning a profession such as a doctor or a lawyer , prepare yourself for a lot of education..

ở mỹ nổi lên một nhà triệu phú nổi tiếng về kỹ nghệ da mèo chiến lược mèo xơi chuột chuột xơi mèo

Answers

Meta nam Diogo Merida hai

How should Hollywood movie studios take advantage of these opportunities, while mitigating the threats

Answers

Answer:

yes

Explanation:

A new e-commerce startup with global operations is looking for a method to manage its supply-chain data for production. Instead of using bar codes, scanners, paper forms, and individual databases, making the system difficult to use, which method should be used to quickly track shipments

Answers

The shipping industry is one that handles a lot of transactions that might sometimes be difficult to track. For the new e-commerce startup with global operations who is looking for a method to manage its supply-chain data for production, the method that they can use to quickly track shipments is;

Blockchain

Blockchain is a reliable and fast way of recording transactions. It is a digital ledger that operates in such a way that when it receives information, other computers that are connected to the central system become updated.

This way, the information is not lost. It is used in supply chain to make the processing of transactions easier and faster.

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Consumer A consumes gasoline Rmb 200 yuan while consumer B purchases 20 liters of gasoline every time. What are the price elasticities of these two consumers?

Answers

The price elasticity of these two buyers is different because consumer A only has 200 yuan and buys as much gasoline as can be with that money, while consumer B needs 20 liters regardless of its price.

The price elasticity of demand is a term that refers to the change in the quantity demanded of a good when its price changes. According to the above, the elasticity of the consumer A does vary because he only has 200 yuan to buy gasoline, so if the value of gasoline increases, he will be able to buy less gasoline.

On the other hand, consumer B does not have much interest in the value of gasoline because he needs 20 liters, that is, if the value increases or decreases, he will continue to buy the 20 liters regardless of its value.

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How has Starbucks adapted to Chinese culture?

Answers

It hasn’t coffe has nothing to do the the Chinese culture besides the logo of a mermaid

Answer:

Starbucks bridged the gap between the tea drinking culture and the coffee drinking culture by introducing beverages in China that was based on local tea-based ingredients. Starbucks also introduced a highly localized menu of beverages and snacks that are particularly customized to suit Chinese taste buds.

Explanation:

If Pizza Hut uses digital media along with more traditional newspaper ads to create a more synchronized and consistent message for customers, it is most likely engaging in

Answers

The creation of a synchronized and consistent message for the customers of Pizza Hut using digital media and traditional newspaper ads shows that Pizza Hut is most likely engaging in: Integrated Marketing Communications (IMC).

What is Integrated Marketing Communications (IMC)?Integrated Marketing Communications (IMC) can be described as the promotion and the application of marketing efforts in consistently passing a persuasive message that has impact on customers.Various promotion elements are synchronized to improve the effectiveness and efficiency of budget allocated to promotion.

Thus, the creation of a synchronized and consistent message for the customers of Pizza Hut using digital media and traditional newspaper ads shows that Pizza Hut is most likely engaging in: Integrated Marketing Communications (IMC).

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What is one reason to connect to the same file several time?

Answers

Answer:

 You want to make sure you have all the data. You want to separate data from the file to create lookup tables.

One reason to connect to the same file several time is that you want to separate data from from the file to create lookup tables.

What are lookup tables?

"A lookup table is an array of data that maps input values to output values, thereby approximating a mathematical function. Given a set of input values, a lookup operation retrieves the corresponding output values from the table. If the lookup table does not explicitly define the input values, Simulink can estimate an output value using interpolation, extrapolation, or rounding, where: an interpolation is a process for estimating values that lie between known data points."

" An extrapolation is a process for estimating values that lie beyond the range of known data points. A rounding is a process for approximating a value by altering its digits according to a known rule. A lookup table block uses an array of data to map input values to output values, approximating a mathematical function. Given input values, Simulink performs a “lookup” operation to retrieve the corresponding output values from the table. If the lookup table does not define the input values, the block estimates the output values based on nearby table values."

What is data?

"Data are individual facts, statistics, or items of information, often numeric. In a more technical sense, data are a set of values of qualitative or quantitative variables about one or more persons or objects, while a datum is a single value of a single variable."

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