Question: please help me. im not understanding. All I need is if its a up, down or not applicable for Asset Cost. This is all the
please help me. im not understanding. All I need is if its a up, down or not applicable for Asset Cost. This is all the data that I have. I also need help with the first question which is listed above
At the beginning of year 3, the company that purchased the machine in the problem above decided to sell it for $200,000. What is the amount of gains or losses from the sale of this asset? Gain.or Loss on Machine Sale Formula Gain or Loss on Machine Sale Computation How do the following items affect the cost of long-term operational assets? Asset Cost Transaction 1,1,or N/A Invoice price of the asset purchased. Testing costs to calibrate the asset. Shipping costs for asset (shipping terms were FOB destination) Shipping costs for asset (shipping terms were FOB shipping point) Discount we received for paying for the asset early. Title and registration fees paid required to put the asset into service. Costs paid to install special footings for the asset. Paid for a shipping container violation fine after ownership of the goods had passed to us. Increase in annual operating expenses due to additional salary costs and additional insurance costs required. Sales tax paid in purchasing the asset. Installation costs
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