Sugar Ridge Manufacturing bought three used machines in a $167,000 lump-sum purchase. An independent appraiser valued the
Question:
Sugar Ridge Manufacturing bought three used machines in a $167,000 lump-sum purchase. An independent appraiser valued the machines as shown:
Machine No. ...................... Appraised Value
1 ................................................. $ 38,250
2 ................................................. 73,100
3 ................................................. 58,650
What is each machine’s individual cost? Immediately after making this purchase, Sugar Ridge sold Machine No. 3 for its appraised value. What is the result of the sale? (Round decimals to three places when calculating proportions, and use your computed percentages in all calculations.)
Step by Step Answer:
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.