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At the beginning of the year, Plummers Sports Center bought three used fitness machines from Advantage, Inc. The machines immediately were overhauled, installed, and started
At the beginning of the year, Plummers Sports Center bought three used fitness machines from Advantage, Inc. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. |
Machine A | Machine B | Machine C | ||||
Amount paid for asset | $ | 26,800 | $ | 37,000 | $ | 22,500 |
Installation costs | 1,800 | 2,000 | 1,200 | |||
Renovation costs prior to use | 3,700 | 1,200 | 2,400 | |||
By the end of the first year, each machine had been operating 6,300 hours. |
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