Keegan Corp, Deferred Cash Basis, M.Choice
Not what you're looking for?
On August 1, 2012, Kegan Corporation purchased a new machine on a deferred payment basis. A down payment of $3,000 was made and 4 monthly instalments of $4,000 each are to be made beginning on September 1, 2012. The cash equivalent price of the machine was $16,200. Kegan incurred and paid installation costs amounting to $500. The amount to be capitalized as the cost of the machine is
a $16,500
b $16,200
c $19,000
d $16,700
Purchase this Solution
Solution Summary
Expert answers the following question...
On August 1, 2012, Kegan Corporation purchased a new machine on a deferred payment basis. A down payment of $3,000 was made and 4 monthly instalments of $4,000 each are to be made beginning on September 1, 2012. The cash equivalent price of the machine was $16,200. Kegan incurred and paid installation costs amounting to $500. The amount to be capitalized as the cost of the machine is
a $16,500
b $16,200
...
Purchase this Solution
Free BrainMass Quizzes
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Operations Management
This quiz tests a student's knowledge about Operations Management