ABC Company recently acquired two items of machineries. One is a packaging machine purchased at an invoice
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ABC Company recently acquired two items of machineries. One is a packaging machine purchased at an invoice price of P2,600,000 subject to a 10% cash discount which was taken. Costs of freight and insurance during shipment were P50,000 and installation cost amounted to P200,000. Another is a welding machine with an invoice price of P1,900,000 subject to a 5% discount which was not taken. Additional welding supplies were acquired at a cost of P100,000. What is the total initial amount to be capitalized as the cost of the machineries?
Related Book For
Making Hard Decisions with decision tools
ISBN: 978-0538797573
3rd edition
Authors: Robert Clemen, Terence Reilly
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