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pls help asap i will like right away! thank you Problem: Module 2 Textbook Problem 12 Learning Objective: 28 Identify and determine the cost of
pls help asap i will like right away! thank you
Problem: Module 2 Textbook Problem 12 Learning Objective: 28 Identify and determine the cost of long-term operational assets Southwest Miling Co, purchased a front-end loader to move stacks of lumber. The loader had a list price of $123,810. The seller agreed to allow a 4.75 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,870. Southwest Milling had to hire a speciallst to calibrate the loader. The specialist's fee was $1,050. The loader operator is paid an annual salary of $9,740. The cost of the company's theft insurance policy increased by $2,100 per year as a result of acquiting the loader. The loader had a four-year useful life and an expected salvage value of $13,600. Required Determine the amount to be capitalized in the asset account for the purchase of the front-end loader. (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign.) Step by Step Solution
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