Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $480,000. Shipping costs totaled $14,200. Foundation work to house the centrifuge cost $9,300. An additional water line had to be run to the equipment at a cost of $3,200. Labor and testing costs totaled $7,600. Materials used up in testing cost $3,900. (Leave no cells blank. Enter O where needed.) Required: 1. What is the total capitalized cost of the equipment? 2. How much of this amount should be expensed immediately? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the total capitalized cost of the equipment? Cost of the equipment < Required 1 Required 2 >

Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $480,000. Shipping costs totaled $14,200. Foundation work to house the centrifuge cost $9,300. An additional water line had to be run to the equipment at a cost of $3,200. Labor and testing costs totaled $7,600. Materials used up in testing cost $3,900. (Leave no cells blank. Enter O where needed.) Required: 1. What is the total capitalized cost of the equipment? 2. How much of this amount should be expensed immediately? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the total capitalized cost of the equipment? Cost of the equipment < Required 1 Required 2 >

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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Disregard the 9.7 in the box at the bottom
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Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $440,000. Shipping costs totaled $12,000. Foundation work to house the centrifuge cost $7,700. An additional water line had to be run to the equipment at a cost of $3,000. Labor and testing costs totaled $4,100. Materials used up in testing cost $3,800. (Leave no cells blank. Enter 0 where needed.) a. What is the total cost of the equipment? b. How much of this amount should be expensed immediately?
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