Question

Phoenix Co. acquired a large piece of specialized machinery used in its manufacturing process. The following costs were incurred in connection with the acquisition:
Finder’s fee ............... $ 2,000
List price ................. 230,000
Transportation fee .............. 4,000
Speeding ticket during transportation ....... 65
Installation fee ................ 2,500
Cost to repair a door damaged during installation . 1,200

Required:
Which of the costs incurred by Phoenix Co. should be capitalized to the machinery account?



$1.99
Sales1
Views56
Comments0
  • CreatedSeptember 10, 2014
  • Files Included
Post your question
5000