Question: 18. C ompany ABC buys a new machine with a list price of $50,000 plus an 8% sales commission. Shipping costs are $800 FOB Destination

18. C ompany ABCbuysa new machine with a list price of $50,000 plus an 8% sales commission. Shipping costs are $800FOB Destination. Installation costs are $1000. What cost does Company ABC record for the new machine?:

a. $47,000

b. $50,000

c. $54,000

d. $55,000

e. $55,800

17. On January 1, 2014, Z Company issues $1 million of 10 year bonds at 98 with 4% interest payable semiannually. What is the value of the bonds payable account on December 31, 2014? (Please note that this question is NOT asking for the carrying value of the bonds.)

a. $980,000

b. $990,000

c. $1,000,000

d. $1,018,000

e. $1,020,000

32. XYZ Company sells 10,000 units for revenue of $500,000. Fixed costs are $100,000 and variable costs are $200,000. What is the contribution margin per unit?:

a. $20

b. $30

c. $40

d. $50

e. $70

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