See Help Save & Exit Submit Check my work 2 0.66 Southwest Milling Co purchased...
70.2K
Verified Solution
Link Copied!
Question
Accounting
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!
