A company purchased for cash a manufacturing equipment with a list price of $180,000. The equipment was shipped FOB shipping point at a cost of $8,500. Installation and calibration of the equipment cost $7,200. What is the recorded acquisition cost of the manufacturing equipment?
A company purchased for cash a manufacturing equipment with a list price of $180,000. The equipment was shipped FOB shipping point at a cost of $8,500. Installation and calibration of the equipment cost $7,200. What is the recorded acquisition cost of the manufacturing equipment?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
Problem 5CE: Prepare journal entries for the following transactions: a. A machine with a cost of 10,000 and...
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