Cominsky Company purchased a machine on July 1, 2023, for $28,000. Cominsky paid $200 in title fees
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Cominsky Company purchased a machine on July 1, 2023, for $28,000. Cominsky paid $200 in title fees and county property tax of $125 on the machine. In addition, Cominsky paid $500 shipping charges for delivery, and $475 was paid to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life of 6 years with a residual value of $3,000. Determine the depreciable base of Cominsky’s new machine. Cominsky uses straight-line depreciation.
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Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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