Also, $200 of labour costs were incurred in calibrating (adjusting) the machine so that it would be at the right height on the ice. These adjustments were normal and were not a result of the damage Special insurance was needed for the new ice cleaning machine, which will cost $200 per month for the next year. Prepare a calculation to show the cost of this machine for accounting purposes. (Negative answer should be indicated by a minus sign.) Invoice cost Freight costs Steel mounting Labour costs for calibration Repairs cost Less discount Total acquisition costs 17.000 340 075 200 270 (340) 18 345

Also, $200 of labour costs were incurred in calibrating (adjusting) the machine so that it would be at the right height on the ice. These adjustments were normal and were not a result of the damage Special insurance was needed for the new ice cleaning machine, which will cost $200 per month for the next year. Prepare a calculation to show the cost of this machine for accounting purposes. (Negative answer should be indicated by a minus sign.) Invoice cost Freight costs Steel mounting Labour costs for calibration Repairs cost Less discount Total acquisition costs 17.000 340 075 200 270 (340) 18 345

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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