Ivanhoe Company purchased equipment and these costs were incurred: Cash price $49000 Sales taxes 3100 Insurance during transit 770 Installation and testing 970 Total costs $53840 Ivanhoe will record the acquisition cost of the equipment as

Ivanhoe Company purchased equipment and these costs were incurred: Cash price $49000 Sales taxes 3100 Insurance during transit 770 Installation and testing 970 Total costs $53840 Ivanhoe will record the acquisition cost of the equipment as

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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Subject: acounting