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please answer and show calculations 4. On January 1, you purchased equipment for your business. The following costs were related to the purchase: Equipment 100,000
please answer and show calculations
4. On January 1, you purchased equipment for your business. The following costs were related to the purchase: Equipment 100,000 Sales tax 1,500 Insurance (1 year premium) 1,000 Freight & Installation 4,500 Maintenance costs during first year 3,600 What amount should your company record as the cost of your equipment? a. $ 100,000 Calculation: b. $ 101,500 c. $ 105,100 d. $ 106,000 e. None of the above, the correct answer is Step by Step Solution
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