Chapter 10 Assignment 1. Kegler Bowling buys scorekeeping equipment with an invoice cost od $190,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for...

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Chapter 10 Assignment 1. Kegler Bowling buys scorekeeping equipment with an invoice cost od $190,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During installation, the equipment was damaged and the cost of repair was $1,850. What is the total recorded cost of the scorekeeping equipment? 2. On January 1, the Mathews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using a. the straight-line method b. the units of production method. C hapter 10 Assignment 1. Kegler Bowling buys scorekeeping equipment w ith an invoice cost od $190 ,000. T he electrical work required for the installation costs $ 20,000. Additiona l costs are $4,000 for delivery and $13,700 for sales tax. During i nstallation, the equipment w as damaged and the cost of r epair was $1,850 . What is the total recorded cost of the score keeping equipment? 2. On January 1, the Mathews Band pays $ 65,800 f o r sound equipment. T he band estimates it will use this equipment f or four years and perform 200 concerts. I t estimates that after four years it can sell the equipment for $2,000. D uring th e first year , the band performs 45 conce rts. C ompute the fir st - year deprec iat ion using a. the straight - line method b. the units of production method. Chapter 10 Assignment 1. Kegler Bowling buys scorekeeping equipment with an invoice cost od $190,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During installation, the equipment was damaged and the cost of repair was $1,850. What is the total recorded cost of the scorekeeping equipment? 2. On January 1, the Mathews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using a. the straight-line method b. the units of production method.
Answered Same DayDec 05, 2021

Answer To: Chapter 10 Assignment 1. Kegler Bowling buys scorekeeping equipment with an invoice cost od...

Suvrat answered on Dec 06 2021
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Chapter 10 Assignment
1. Kegler Bowling buys scorekeeping equipment with an invoice cost od $190,00
0. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During installation, the equipment was damaged and the cost of repair was $1,850.
What is the total recorded cost of the scorekeeping equipment?
Ans –
The cost of the asset consists of all the necessary costs incurred to get it into a working condition (including installation and delivery but not...
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