Presto Company purchased equipment and these costs were incurred: Cash price $45,000 Sales taxes 3,600 Insurance during

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Presto Company purchased equipment and these costs were incurred:

Cash price $45,000

Sales taxes 3,600

Insurance during transit 640

Installation and testing 860

Total costs $50,100

Presto will record the acquisition cost of the equipment as

a. $45,000.

b. $48,600.

c. $49,240.

d. $50,100.

Related Book For answer-question

Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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Posted Date: Jun 13, 2019 01:51 AM

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Presto Company purchased equipment and these costs were incurred: Cash price $45,000 Sales taxes 3,600 Insurance during

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Option D 50100 is the correc... View the full answer

Cornerstones of Financial and Managerial Accounting

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