Question
Kegler Bowling buys scorekeeping equipment with an Invoice cost of $185,000. The electrical work required for the installation costs $19,000. Additional costs are $3,800
Kegler Bowling buys scorekeeping equipment with an Invoice cost of $185,000. The electrical work required for the installation costs $19,000. Additional costs are $3,800 for delivery and $13,300 for sales tax. During the Installation, the equipment was damaged and the cost of repair was $1,795. Required: Indicate whether each cost should be included in the cost of the equipment or excluded and expensed as incurred Costs Amount Included or Excluded Account Invoice cost $ 185,000 Electrical work required for installation 19,000 Delivery costs 3.800 Sales tax 13,300 Repair costs 1.795 Total recorded cost
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