Question
You acquired a piece of machinery costing $36330. Freight charges incurred were $4766 and you had to spend $5768 to install the machine, but while
You acquired a piece of machinery costing $36330. Freight charges incurred were $4766 and you had to spend $5768 to install the machine, but while the machine was being installed a part of it was damaged and you paid $390 to have it repaired. At what amount will the machine be reported on the balance sheet?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
