Rizio Company purchases a machine for $9,600, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $96 discount. Transportation costs of $217 were paid by Rizio. The machine required mounting and power connections costing $664. Another $313 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $285 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine.

Rizio Company purchases a machine for $9,600, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $96 discount. Transportation costs of $217 were paid by Rizio. The machine required mounting and power connections costing $664. Another $313 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $285 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine.

Name: Rizio Company purchases a machine for $9,600, terms1/10, n/60, FOB sh
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Description: Rizio Company purchases a machine for $9,600, terms1/10, n/60, FOB shipping point. Rizio paid within thediscount period and took the $96 discount. Transportationcosts of $217 were paid by Rizio. The machine requiredmounting and power connections cos

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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