Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost of trial runs 750 Installation costs 250 Sales tax 2,600 What is the cost of the equipment? a.$52,000 b.$54,600 c.$54,850 d.$55,600

Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost of trial runs 750 Installation costs 250 Sales tax 2,600 What is the cost of the equipment? a.$52,000 b.$54,600 c.$54,850 d.$55,600

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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Question

1. Anniston Company purchased equipment and incurred the following costs:

Purchase price	$52,000
Cost of trial runs	750
Installation costs	250
Sales tax	2,600

What is the cost of the equipment?

a.$52,000

b.$54,600

c.$54,850

d.$55,600

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