2024 Paid installation charges on machinery

Paid installation charges on machinery

Author: tohu

August undefined, 2024

WebClick here👆to get an answer to your question ️ On purchase of a machine Rs 100 paid to workers as wages for installing the machine . Solve Study Textbooks Guides. ... Wages A/c be debited. B. Installation charges A/c be debited. C. Machinery A/c be debited. D. None of these. Hard. Open in App. Solution. Verified by Toppr. Correct option is ... WebNov 15, 2024 · Since installation charges on machinery are paid while the machinery is bought,it is considered to be a single transaction. Perhaps a conceptual answer would …

help with this question Sunland Company purchased machinery on...

WebA machine that was purchased on January 1 for $60,000 has an estimated salvage value of $12,000. If the machine's depreciation rate is 20%, ... The company was given a $4,800 cash discount by the dealer, and paid $2,400 sales tax. Annual insurance on the truck is $1,200. As a result of the purchase, ... WebJun 15, 2013 · debit installation charges credit cash / bank. This answer is: ... What is the journal entry for wages paid for installation of machinery? [Debit] Machinery Asset … sveisegass mig

Solved Crane Company purchased machinery on January 1 at a

WebSep 15, 2024 · 1 Paid repairing charges on existing machineries..... April 2 Purchased a new machinery.. April 3 Paid freight and carriage on machinery April 4 Paid installation charges on machinery April 5 Purchased a second-hand machinery April 6 Paid repairing charges on above machinery. ₹ 1,000 42,500 2,500 5,000 18,000 2,500 WebNov 24, 2024 · (xiv) Purchased machinery for ₹ 56,000 including IGST of ₹ 6,000 and paid cartage thereon ₹ 5,000 and installation charges ₹10,000. (xv) Goods costing ₹ 40,000 sold to Mr. X at a profit of 20% on sales less 10% Trade Discount plus CGST and SGST @ 6% each and received a cheque under 2% cash discount. WebFreight, unloading, and delivery charges for machinery acquired 110,000. Custom duties and other charges for machinery acquired 480,000. Allowances and hotel accommodation paid to foreign technicians during installation and test run of machine 600,000. Cost of training for personnel who will use the machine bramhall u3a groups

What are installation charges accounting? – Heimduo

WebJul 17, 2014 · Best Answer. Copy. [Debit] machinery account. [Credit] Cash / bank. Normally expenses incurred at the time of purchase of assets till it's working location is included in actual asset's account ... WebJun 3, 2024 · 1. Bought machinery from Rama Stores for 28,000 and paid freight 1,000, carriage 200 and installation charges 800. 2. Bought goods from Ratnakar for 8,000 for cash and paid carriage charges 500. 3. Bought a second hand machine for 11,000 and spent * 1,000 on carriage and * 3,000 on its repair. 4. Paid repair charges of office furniture 500. 5. sveiseklasseWebUse 6 decimals while answering thank you. Transcribed Image Text: Liam acquired a machinery purchased for P 1,100,000.00 and paid for transportation charge of P … bramiana lake crete

"WebThe cash equivalent price of the machine was P950,000. Bamco incurred and paid installation costs amounting to P30,000. What is the amount to be capitalized as cost of the machine? a. 950, 000 b. 980, 000 c. 1,100, d. 1,130, Solution 28-2 Answer b. Cash price 950, 000 Installation cost 30, 000 Total cost 980, 000 " - Paid installation charges on machinery

Paid installation charges on machinery

11th Ts grewal 2024-2024 Question 9 to 12 ch: 8 Journal

WebAug 20, 2024 · Paid installation charges for machinery 2000 Get the answers you need, now! rahulrajspc8751 rahulrajspc8751 20.08.2024 Accountancy ... Advertisement Advertisement 064simraiqbal 064simraiqbal Answer: machinery a/c Dr. 2,000 To cash a/c 2,000. Explanation: Advertisement Advertisement Jatin1237 Jatin1237 Answer: …

Did you know?

WebJul 12, 2024 · A machine was purchased for ₹ 17,500 and installation charges ₹ 1000 and carriage charge ₹ 500 paid. What costs are included in the cost of machinery? All of the … WebAug 20, 2024 · Paid installation charges for machinery 2000 Get the answers you need, now! rahulrajspc8751 rahulrajspc8751 20.08.2024 Accountancy ... Advertisement …

WebQuestion 9: April 1: Paid repairing charges on existing machineries. April 2: Purchased a new machinery. April 3: Paid freight and carriage on machinery. April 4: Paid installation charges on machinery. April 5: Purchased a second-hand machinery. April 6: Paid repairing charges on above machinery. WebThe cash price would have been The entity paid no installation charges under the monthly payment plan but a P20,000 installation charge would have been incurred with a cash purchase. ... for a used machine and paid difference of P160,000. The fair value of the old packaging machine was determined to be P700,000. What is the cost of the new ...

WebSee terms & conditions. Sandhill Co. purchased machinery on January 1 at a list price of $410000, with credit terms 2/10, n/30. Payment was made within the discount period. … WebSolution. Verified by Toppr. Correct option is A) Capital Expenditures are for fixed assets, which are expected to be productive assets for a long period of time. All the amount paid …

WebPurchased Machinery for cash: 20,000 : Paid installation charges on machinery: 2,000: 5: Purchased goods from X of the list price of Rs. 25,000, Trade Discount 20% and cash discount 5%. Payment was made in cash immediately. 10: Sold goods to Y costing Rs. 10,000 at 30% profit on cost less 10% trade discount. 15: Paid Rent: 1,000: 20: Goods ...

WebJan 2, 2014 · Choose the best option. Each question is worth 2 points. There are 25 questions. 1. Storm Corporation purchased a new machine on October 31, 2014. A $2,400 down payment was made and three monthly installments of $7,200 each are to be made beginning on November 30, 2014. The cash price would have been $23,200. Storm paid … brami black bra topWebQuestion: Oriole Company purchased machinery on January 1 at a list price of $410000, with credit terms 4/10,n/30. Payment was made within the discount period. Oriole paid … sveisegass argon mixWeb2) Wages paid for construction of building Rs 15,000 was wrongly debited to wages account. 3) Expense of installation of Machinery was debited to installation charges account Rs … brami braWebSunland Company purchased machinery on January 1 at a list price of $420000, with credit terms 3/10, n/30. Payment was made within the discount period. Sunland paid $149500 sales tax on the machinery, and paid installation charges of $5400. Prior to installation, Sunland paid $12000 to pour a concrete slab on which to place the machinery. sveisehusetWebJul 12, 2024 · A machine was purchased for ₹ 17,500 and installation charges ₹ 1000 and carriage charge ₹ 500 paid. What costs are included in the cost of machinery? All of the costs incurred placing a piece of machinery into service essentially becomes part of the cost of the machinery. sveisekontrollWebWe would like to show you a description here but the site won’t allow us. sveisekoordinator kravWebApr 21, 2024 · List price of machinery = $340,000. Discount = 3%. Sales tax paid on machinery = $35,750. Installation charges paid on machinery = $5,800. Amount paid to pour a concrete slab = $10,000. Firstly, the gross purchasing cost of machinery is determined. It is the cost of the machinery after deducting the discount from the listed price. It is ... sveisekurs oslo