Give me true answer this accounting question Briarwood Electronics Ltd. purchased machinery for $45,000. Additional costs incurred were:Sales tax: $3,150Freight charges: $800Repairs for damage during installation: $500Installation costs: $950What is the total cost of the machinery to be capitalized?

Step 1: Definition of Capitalized Cost of MachineryThe capitalized cost of machinery includes all…

Answered: Briarwood Electronics Ltd. purchased…

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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Briarwood Electronics Ltd. purchased machinery for $45,000. Additional costs incurred were: Sales tax: $3,150 Freight charges: $800 Repairs for damage during installation: $500 Installation costs: $950 What is the total cost of the machinery to be capitalized?