1. Evans bake shop bought a new air-conditioning system when the old one stopped working. The invoice price of the system was 41,000. Evan also had the following expenses associated with the purchase

Delivery charge $1925

Installation 3245

power to run the system for the first year $1270.

what amount should Evan's record on the books for this air conditioning system?

2. Conway specialist corporation purchased three new pieces of equipment at a total cost of 413,000. The appraised values of the individualpieces of equipment were as follows:

Equipment 1 $155,760

Equipment 2 $146,320

Equipment 3 $169,920

What amount should be recorded as the cost for each of the pieces of equipment in Conway specialist's accounts?

cost to record

Equipment 1?

Equipment 2?

Equipment 3?

3. Delta airlines has determined that several of its planes are impaired. The book value of the planes is $10 million, but the fair market value of the planes is $9 million. How would this impairment affect the income statement in the period it is recoreded?

if the decline is assumed to be?_, the assets impairment of $1,000,000 should be?_, _ net income by the same amount.