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10. (L.O. 5) In January 2014, Barbie Company entered into a contract to acquire a new machine

18 / 01 / 2019 Research Papers

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10. (L.O. 5) In January 2014, Barbie Company entered into a contract to acquire a new machine for… 1 answer below » 10.        (L.O. 5) In January 2014, Barbie Company entered into a contract to acquire a new machine for its factory. The machine, which had a cash price of $300,000, was acquired in exchange for the following: Down payment $    30,000 Note payable in 24 equal monthly installments 240,000 500 shares of Barbie common stock, with an agreed value of $100 per share 50,000 Total $ 320,000 View complete question » 10.        (L.O. 5) In January 2014, Barbie Company entered into a contract to acquire a new machine for its factory. The machine, which had a cash price of $300,000, was acquired in exchange for the following: Down payment $    30,000 Note payable in 24 equal monthly installments 240,000 500 shares of Barbie common stock, with an agreed value of $100 per share 50,000 Total $ 320,000 Prior to the machine’s use, installation costs of $8,000 were incurred. The amount to record for the acquisition cost of the machine is: a. $300,000. b. $308,000. c. $320,000. d. $328,000. View less » Nov 16 2015 12:17 PM


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