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Royal Co. acquired new machinery with a list price of $700,000. At the date of Purchase they received a $7,000 cash discount and paid $2,000 of delivery charges. Installation and worker training costs were $46,000 and $14,000 respectively. During installation, worker negligence caused $15,000 damage to other machinery in the factory building. What is the acquisition cost for the machinery?I am unsure what to include, deduct or add in the calculation. Any help would be great!
Acquisition Cost Accounting
I remember a famous economist said that. Poor countries are economically advantaged to use manual labor instead of advanced technology so that they can employ everyone.
If that's a famous economist, he's a stupid, famous economist. Pure poppycock. Productivity matters. That famous economist failed Econ 101. Is it leftist darling Paul Krugman? The guy who ignored the basic fact that all wealth destruction is bad and declared the 9/11 rebuilding in NYC a positive economic event?
Metal forming and processing methods which have their own characteristics and scope of application
Forging processing is a combination of forging and stamping processing, is the use of forging machinery hammer, anvil, punch or general mold on the blank pressure, the blank plastic deformation, access to the required parts of the metal material forming method. Forging the workpiece size is accurate, suitable for mass production. After the workpiece mechanical properties of the workpiece is significantly provided, but the corresponding high cost of manufacturing, can only be processed plastic high metal materials.
2004Jan. 1 Paid $106,600 cash plus $6,400 in sales tax for a new machine. The machine is estimatedto have a six-year life and a $9,800 salvage value.Dec. 31 Recorded annual straight-line depreciation on the machinery.2005Dec. 31 Due to new information obtained earlier in the year, the machine’s estimated useful life waschanged from six to four years, and the estimated salvage value was increased to $13,050.Recorded annual straight-line depreciation on the machinery.2006Dec. 31 Recorded annual straight-line depreciation on the machinery.Dec. 31 Sold the machine for $25,240 cash.RequiredPrepare journal entries to record these transactions and events.
Jan. 1 Paid $106,600 cash plus $6,400 in sales tax for a new machine. The machine is estimated to have a six-year life and a $9,800 salvage value Dr Machinery $113,000 Cr Cash $113,000 Dec. 31 Recorded annual straight-line depreciation on the machinery Dr Depreciation expense $17,200 (i.e. [$113,000-$9,800]/6) Cr Accumulated depreciation $17,200 2005 Dec. 31 Due to new information obtained earlier in the year, the machine’s estimated useful life was changed from six to four years, and the estimated salvage value was increased to $13,050. Recorded annual straight-line depreciation on the machinery Dr Depn $27,583.33 Cr Accum. depn. $27,583.33 (Nbv of $95,800 - 13,050 divided by 3 remaining yrs) 2006 Dec. 31 Recorded annual straight-line depreciation on the machinery Dr Depn $27,583.33 Cr Accum. depn. $27,583.33 (Nbv is now $113,000 - $17,200 - $27,583.33 - $27,583.33 = $40,633.34) Dec. 31 Sold the machine for $25,240 cash Dr Cash $25,240 Dr Loss on disposal of machinery $15,393.34 Dr Accum. depn. $72,366.66 Cr Machinery $113,000
I need to find artists or phootgraphers who used machines in their work, engines and steam engines.
H. okorder /
it has for wheels and u can move around int it .... i can not think of its name!! PLEASE HELP =0
There's okorder /
Can you just tell me what you did as a machinery repairman? Where was your first station that you went to? Or where you assigned directly to a ship? Did you ever get stationed at the Norfolk Naval Shipyard? Did you ever go overseas? Were you on the ship more or on shore more? And finally but not least when you were deployed how long were you usually deployed for?i know i have alot of questions but its something im interested in and no one has given me a straight answer. But anything will be greatly appreciated.Thank you for your time and God Bless :-)
First okorder /
It is related to the injection unit of molding machine
Feed Screw Length to Diameter ration. It should be depends on different screw geometry and application.