Question: Minott Jewelers Ltd purchased store fixtures display cases and a

Minott Jewelers, Ltd., purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price of $14,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $6,000; display cases, $9,000; commercial safe, $5,000.

Required:
What cost should be recorded for the commercial safe?


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  • CreatedOctober 05, 2013
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