subject
Business, 14.11.2019 03:31 CarlsonB

The following expenditures relating to plant assets were made by glenn company during the first 2 months of 2014. (b) indicate the account title to which each expenditure should be debited.
1. paid $7,000 of accrued taxes at the time the plant site was acquired. choose an account title
2. paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit. choose an account title
3. paid $850 sales taxes on a new delivery truck. choose an account title
4. paid $21,000 for parking lots and driveways on the new plant site. choose an account title
5. paid $250 to have the company name and slogan painted on the new delivery truck. choose an account title
6. paid $8,000 for installation of new factory machinery. choose an account title
7. paid $900 for a 1-year accident insurance policy on the new delivery truck. choose an account title
8. paid $75 motor vehicle license fee on the new truck.
explain the application of the historical cost principle in determining the acquisition cost of plant assets.
list the numbers of the transactions, and opposite each indicate the account title to which each expenditure should be debited.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 22:00
The market yield on spice grills' bonds is 15%, and the firm's marginal tax rate is 33%. what is their shareholders' required return if the equity risk premium is 4%?
Answers: 1
question
Business, 22.06.2019 14:50
Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)
Answers: 2
question
Business, 22.06.2019 20:20
You are the cfo of a u.s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u.s. assembly operations. the subsidiary has been financed by bank borrowings in the united states. one of your analysts told you that the mexican peso is expected to depreciate by 30 percent against the dollar on the foreign exchange markets over the next year. what actions, if any, should you take
Answers: 2
question
Business, 22.06.2019 20:30
Considered alone, which of the following would increase a company's current ratio? a. an increase in net fixed assets.b. an increase in accrued liabilities.c. an increase in notes payable.d. an increase in accounts receivable.e. an increase in accounts payable.
Answers: 3
You know the right answer?
The following expenditures relating to plant assets were made by glenn company during the first 2 mo...
Questions
question
Mathematics, 06.06.2020 03:00
question
English, 06.06.2020 03:00
question
Mathematics, 06.06.2020 03:00
Questions on the website: 13722367