Kegler Bowling buys scorekeeping equipment with an invoice cost of $180,000. The electrical work required for...
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Kegler Bowling buys scorekeeping equipment with an invoice cost of $180,000. The electrical work required for the installation. costs $18,900. Additional costs are $3,780 for delivery and $12,970 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,745. Required: Indicate whether each cost should be included in the cost of the equipment or excluded and expensed as incurred. Costs Amount Included or Excluded Account Invoice cost Electrical work required for installation Delivery costs Sales tax Repair costs Total recorded cost $ $ 180,000 Included 18,900 Included 3,780 Included 12,970 Included 1,745 Excluded 217,395 Kegler Bowling buys scorekeeping equipment with an invoice cost of $180,000. The electrical work required for the installation. costs $18,900. Additional costs are $3,780 for delivery and $12,970 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,745. Required: Indicate whether each cost should be included in the cost of the equipment or excluded and expensed as incurred. Costs Amount Included or Excluded Account Invoice cost Electrical work required for installation Delivery costs Sales tax Repair costs Total recorded cost $ $ 180,000 Included 18,900 Included 3,780 Included 12,970 Included 1,745 Excluded 217,395
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Answer is as follows Total cost Included Fancluded DR machinery Dr Expense Invoice c... View the full answer
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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