Proton, Inc. acquired a new machine:Invoice cost, 5%/10, n/30P1,800,000Transportation cost50,000Installation cost120,000The new entity's main engineer spent two-thirds of his time onthe new machine's trial run. The salary of the main engineer isP90,000 per month.The cost of insurance of the the new machine for the first yearwas P10,000.What amount should be recorded as the cost of new machine?O P 1,950,000O P 2,070,000P 1,980,000O P 1,940,000

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Answered: oton, Inc. acquired a new machine:

Business

Accounting

oton, Inc. acquired a new machine:

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 : Accounting
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DELIBIRD Company has recently purchased a computer system for its office. The following information was gathered in relation to the acquisition of the unit: List price P152,000 Trade discounts and rebates taken 56,000 Installation and assembly cost 3,200 Initial delivery and handling cost 6,400 Purchase discount 2% What is the acquisition cost of the new computer? O94.080 O 105.680 O 103,680 O160.600
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