Kegler Bowling installs automatic scorekeeping equipment with an invoice cost of $ 190,000. The electrical work required for the installation costs $ 20,000. Additional costs are $ 4,000 for delivery and $ 13,700 for sales tax. During the installation, a component of the equipment is carelessly left on a lane and hit by the automatic lane- cleaning machine. The cost of repairing the component is $ 1,850. What is the total recorded cost of the automatic scorekeeping equipment?
Answer to relevant QuestionsOn January 2, 2013, the Cerritos Band acquires sound equipment for concert performances at a cost of $ 65,800. The band estimates it will use this equipment for four years, during which time it anticipates performing about ...Refer to Polaris’ balance sheet in Appendix A. What accrued expenses (liabilities) does Polaris re-port at December 31, 2011? Algoma, Inc., signs a five-year lease for office equipment with Office Solutions. The present value of the lease payments is $ 15,499. Prepare the journal entry that Algoma records at the inception of this capital lease.If a short-term investment in available-for-sale securities costs $ 10,000 and is sold for $ 12,000, how should the difference between these two amounts be recorded?On June 3, a company borrows $ 200,000 cash by giving its bank a 90-day, interest- bearing note. On the statement of cash flows, where should this be reported?
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