Valix Finacc vol 1 Problem 16-13 and 14

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 16 Problem 16-13 and 14

Problem 16-13                                              Problem 16-14

Invoice price                             3,000,000        Invoice cost                       4,000,000  

Cash discount             (   150,000)       Discount (5% x 4,000,000)              (    200,000)

Freight                                           50,000        Transportation                         40,000

Installation cost                             30,000        Installation                                         100,000

Testing cost                                    20,000        Trial run-salary of engineer                   50,000

                                                 2,950,000         Cash allowance                           (     60,000)

                                                                                                                               3,930,000