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Multiple choice A. A corporation acquired a cash machine for $120,000 after deducting a 25% trade discount from the advertised price. The machine was
Multiple choice A. A corporation acquired a cash machine for $120,000 after deducting a 25% trade discount from the advertised price. The machine was sent at a cost of $2,000 F.O.B. shipping point. The machine's installation and test runs cost $1,000. The machine's recorded acquisition cost is: A- $98,000 B- $128,000 C- $90,000 D- $93,000 B.A customized repair to a machine will add four years to the machine's initial predicted lifespan of six. The $50,000 price tag for this repair includes: A) a capital expenditure. B) a revenue expenditure. C) an ordinary repair and maintenance expenditure. D) either (A) or (B)
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