Question
On July 1, APPLE purchased a machine worth 21,000,000 subject to a 2% cash discount if paid within 120 days. Freight on the machinery amounted
On July 1, APPLE purchased a machine worth 21,000,000 subject to a 2% cash discount if paid within 120 days. Freight on the machinery amounted to 315,000. Construction of bases for such machine acquired amounted to 4,050,000. On November 15, APPLE paid the supplier of the machine. How much is the total cost of the machine to be reported in the year-end statement of financial position?
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Cost Determination A Conceptual Approach
Authors: Joel S. Demski
1st Edition
0813803608, 978-0813803609
