Question

The cost of a plant asset would include all but which of the following? A) sales...

The cost of a plant asset would include all but which of the following?

A) sales taxes

B) repair cost for dropping and damaging the asset

C) delivery costs

D) installation costs

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

A. Sales Tax : - sales tax include in cost of fixed afixed if such tax is nature of non refundable.

B. Repair cost for dropping and damaging the assets: some extraordinary repairs are capitalized expenses that increase future depreciation and value of assets over the useful life of assets

C. delivery cost:-  delivery cost is also include in cost of asset. Delivery cost is cost which brings assets at requisite place.

D. installation cost : - installation cost is cost that brings the assets into running condition. Installation cost also include in cost of assets.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following is not a component of cost of an asset? A. Refundable sales...
Which of the following is not a component of cost of an asset? A. Refundable sales tax B. Import duties C. Estimate of compulsory future dismantling costs D. Purchase price
QUESTION 16 Which of these would NOT be a valid cost to include as part of...
QUESTION 16 Which of these would NOT be a valid cost to include as part of the ICO? installation and testing the catalog price of the asset the cost of research and development for the project the training of workers to use the new asset
Which of the following would be recorded as a contra asset? Select one: a. Sales return...
Which of the following would be recorded as a contra asset? Select one: a. Sales return and allowance b. Prepayments c. Accumulated depreciation d. a. and c. e. All of the above
Which of the following does not describe an expenditure that would be considered an asset improvement?...
Which of the following does not describe an expenditure that would be considered an asset improvement? a. routine cost to restore equipment to its ordinary operating condition after an accident b. install hardware that will increase the equipment's rate of output c. upgrade motor to decrease equipment's operating cost d. installation of a new battery system to allow for longer useful lives of office equipment
A firm is considering purchasing an asset that will cost $5 million. Other depreciable costs include...
A firm is considering purchasing an asset that will cost $5 million. Other depreciable costs include $800,000 in installation costs. If the asset is classified in the 5-year class, what is the annual depreciation for years 1, 3, and 6 for this asset, using the fixed depreciation percentages given by MACRS? (The percentages are 20.00%, 19.20%, and 5.76%, respectively. a. $1,160,000, $1,113,600, and $334,080 for years 1, 3, and 6, respectively b. $1,856,000, $1,113,600, and $334,080 for years 1, 3,...
7. The costs of carrying inventory include all of the following except: a)Ordering costs. b)Cost of...
7. The costs of carrying inventory include all of the following except: a)Ordering costs. b)Cost of warehouse space. c)Insurance and handling costs. d)Interest on funds tied up in inventory. e)None of the above. 8. Once the break-even point is reached: a)The contribution margin ratio begins to decrease. b)The variable expenses will remain constant in total. c)The total contribution margin changes from negative to positive. d)The net operating income will increase by the unit contribution margin for each additional item sold....
Operating expenses include ________. loss on sale of plant asset cost of goods sold expenses that...
Operating expenses include ________. loss on sale of plant asset cost of goods sold expenses that occur in an entity's major line of business cost of goods sold, selling expenses, and administrative expenses
7. If a frozen pizza plant is the cost object, classify each of the following costs...
7. If a frozen pizza plant is the cost object, classify each of the following costs as direct or indirect, respectively: property insurance, cafeteria workers wages, and janitorial supplies. a. direct, indirect, and indirect b. direct, indirect, and direct c. all are direct d. all are indirect 8. Product costs a. are inventoriable costs. b. are manufacturing costs. c. include direct materials, direct labor, and overhead. d. are all of these.
Revaluations under AASB 116 Property, Plant and Equipment apply to Select one: a. individual non-current assets...
Revaluations under AASB 116 Property, Plant and Equipment apply to Select one: a. individual non-current assets only b. all assets on an individual basis c. assets on a class-by-class basis. d. individual current assets only The cost of an item of Property, Plant and Equipment includes all of the followings except Select one: a. resale price b. installation costs c. delivery charges d. dismantling charges
Which of the following would not be considered an intangible asset? Select one: A. Trademarks and...
Which of the following would not be considered an intangible asset? Select one: A. Trademarks and internet domain names B. Plant, Property, and Equipment C. Patents, computer software, databases and trade secrets D. Customer lists, production backlog, and customer contracts E. None of the above
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT