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QS 10-1 (Algo) Cost of plant assets LO C1 Kegler Bowling buys scorekeeping equipment with an invoice cost of $155,000. The electrical work required
QS 10-1 (Algo) Cost of plant assets LO C1 Kegler Bowling buys scorekeeping equipment with an invoice cost of $155,000. The electrical work required for the installation costs $16,275. Additional costs are $3,255 for delivery and $11,170 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,505. Required: Indicate whether each cost should be included in the cost of the equipment or excluded and expensed as incurred. Required: Indicate whether each cost should be included in the cost of the equipment or excluded and expensed as incurred. Costs Amount Invoice cost $ 155,000 Electrical work required for installation 16.275 Delivery costs 3,255 Sales tax 11.170 Repair costs 1,505 Total recorded cost Included or Excluded Account
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