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ACC 291 Week 2, Assignment (E9-1, E9-7, E9-12, P9-7B)
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ACC 291 Week 2, Assignment (E9-1, E9-7, E9-12, P9-7B)

ACC 291 WEEK 2

INDIVIDUAL EXERCISE

(Exercises E9-1, E9-7, E9-12 & Problem P9-7B)

 

E9-1: The following expenditures relating to plant assets were made by Spaulding Company during the first 2 months of 2011.

1. Paid $5,000 of accrued taxes at time plant site was acquired.

2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit.

3. Paid $850 sales taxes on new delivery truck.

4. Paid $17,500 for parking lots and driveways on new plant site.

5. Paid $250 to have company name and advertising slogan painted on new delivery truck.

6. Paid $8,000 for installation of new factory machinery.

7. Paid $900 for one-year accident insurance policy on new delivery truck.

8. Paid $75 motor vehicle license fee on the new truck.

 

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