Tuesday
March 3, 2015

Homework Help: Accounting

Posted by stuckinmath on Thursday, July 24, 2008 at 7:37pm.

R company putchased many tools during 2007 at a total cost of $8,100. Some tools were expected to last a few weeks, some for several months, and some for several years. R companys income for 2007 will be about 4.5 million. How should R company account for the tools in order to be theoretically correct? As a practical matter, how should R company account for these tools? Why?

***I am supposed to indicate the accounting principle or concept that applies***

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

accounting - Rigsby Company purchased many small tools during 2010 at a total ...
finance - Kohers Inc is considering a leasing arrangement to finance some ...
Finance - Kohers Inc is considering a leasing arrangement to finance some ...
statistics - What tools can be used to collect data? What are some of the issues...
Financial accounting - Last year Rattner had $5 million in operating income(EBIT...
human service - What are some other technological tools that have been developed...
accounting - Baldwin Products Company anticipates reaching a sales level of $6 ...
Business Law - Case study: A former employee enters his employer's place of ...
accounting - For each of the following, indicate the accounting concept or ...
Accounting Concepts - To close the accounting cycle for Joe Smith's business, ...

Members