Question
Minott Jewelers, Ltd., purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price of $25,000 from a bankrupt competitor. Appraised values
| Minott Jewelers, Ltd., purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price of $25,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $17,000; display cases, $20,000; commercial safe, $13,000.
Cost of commercial safe? $______________ |
| Required: |
| What cost should be recorded for the commercial safe? |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
