The entry to record the purchase of a machine on account that costs $10,000, installation costs, $1,000, and freight, $600, would be:
A) debit Machinery $10,000; credit Accounts Payable $10,000.
B) debit Machinery $10,000; debit Expenses $1,600; credit Accounts Payable $11,600.
C) debit Machinery $11,600; credit Accounts Payable $11,600.
D) debit Machinery $11,000; debit Freight Expense $600; credit Accounts Payable $11,600.
Correct Answer:
Verified
Q14: Which of the following is NOT an
Q15: Which of the following is a non-depreciable
Q16: The cost of a plant asset did
Q17: Ben's Supreme purchased new baking equipment for
Q18: Land Improvements is an asset account that
Q20: Which of the following assets would be
Q21: Burlington Industries purchased a plant asset to
Q22: J. Pohl purchased office equipment for $5,000
Q23: The depreciation method that does not base
Q24: In the last year of useful life,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents