Homework Help: Math

Posted by Bobbi Loffredo on Saturday, April 2, 2011 at 4:39pm.

Oaktree Company purchased a new machine and made the following expenditures:

Purchase price $45,000
Sales tax 2,200
Freight charges
for shipment of machine 700
Insurance on the machine
for the first year 900
Installation of machine 1,000

The machine, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash.

Math - Henry, Monday, April 4, 2011 at 12:47am
What is the question?
Math - Anonymous, Tuesday, August 2, 2011 at 9:14am
The question is to prepare the necessary journal entries to record the above expenditures.

Answer this Question

Related Questions

Business Finance - Vandalay Industries is considering the purchase of a new ...
Accounting - Big Company purchased a machine on February 1, 2013, and will make ...
Finance - 3. Your firm is considering buying a new machine that costs $200,000, ...
Financial Management - The management of cooper Equipment is planning to ...
college - You are replacing an old piece of machinery with a new one that offers...
finance - Nucore Company is thinking of purchasing a new candy-wrapping machine ...
finance - New project analysis You must evaluate a proposal to buy a new milling...
finance - New project analysis You must evaluate a proposal to buy a new milling...
strategic ffinancial mangement - XYZ company is contemplating the purchase of a ...
accounting - A company purchased a machine on January 1 of the current year for...

For Further Reading

First Name:
School Subject:
Answer: