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detail proper solution rrquired with explaination Q#1 Fazil Company purchased a machine on April 01, 2001 at a list price of Rs. 60,000 with a
detail proper solution rrquired with explaination
Q#1 Fazil Company purchased a machine on April 01, 2001 at a list price of Rs. 60,000 with a trade discount at 5%. The credit terms were 2/10, n/30. The payment was made within discount period. The company incurred the following additional expenditure. i. 4% Sales Tax on the cash price of Machine. ii. Custom duty Rs. 11,000 iii. Installation and testing cost Rs. 13,000 iv. The Machine was insured against fire and premium paid Rs. 3,500 Insurance in transit Rs. 5,000 vi. Fright in Rs. 2,500 INSTRUCTION: Compute the cost of Machine vStep by Step Solution
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