Question
Crane Company purchased equipment and these costs were incurred: Cash price $56000 Sales taxes 2700 Insurance during transit 510 Installation and testing 1450 Total costs
Crane Company purchased equipment and these costs were incurred:
Cash price
$56000
Sales taxes
2700
Insurance during transit
510
Installation and testing
1450
Total costs
$60660
What amount should be recorded as the cost of the equipment?
$60660.
$56000.
$58700.
$59210
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
1st Edition
0471169196, 978-0471169192
