W bought a new printing machine. The cost of the machine was $80,000. The installation costs were$5,000 and the employees received training on how to use the machine, at a cost of $2,000. Beforeusing the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?$85.000$80, 00088, 000$86.000

W bought a new printing machine. The cost of the machine was $80,000. The installation costs were$5,000 and the employees received training on how to use the machine, at a cost of $2,000. Beforeusing the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?$85.000$80, 00088, 000$86.000

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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