Swifty Company purchased equipment and these costs were incurred: Cash price Sales taxes Insurance during transit Installation and testing Total costs $65500 3300 $68800. Ⓒ$70300. $69420. $65500. 620 880 $70300 Swifty will record the acquisition cost of the equipment as
Swifty Company purchased equipment and these costs were incurred: Cash price Sales taxes Insurance during transit Installation and testing Total costs $65500 3300 $68800. Ⓒ$70300. $69420. $65500. 620 880 $70300 Swifty will record the acquisition cost of the equipment as
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Swifty Company purchased equipment and these costs were incurred:
Cash price
Sales taxes
Insurance during
transit
Installation and testing
Total costs:
$65500
3300
$68800.
$70300.
$69420.
$65500.
620
880
$70300
Swifty will record the acquisition cost of the equipment as
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