Illustration 2 A construction company purchased an excavating machine and incurred the
following expenses:
invoice price Nu. 1,000,000
transportation cost Nu. 12,000
installation costs Nu. 9,000
repair cost prior to use Nu.35, 000
import duties Nu. 15,000
The vendor offered 5% cash discount on invoice price for 30 days credit term. The
company also paid 10% sales tax.
Required:
Calculate the cost of acquisition of the item of property, plant and equipment
which must be recognized in the company's accounting system.​

What happens when a bank is required to hold more money in reserve?

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

What should a food worker use to retrieve ice from an ice machine?