Question: Watauga Company purchased equipment on July 1, 2017 for $70,000. Sales tax on the purchase was $700. Other costs incurred were freight charges of $800,

Watauga Company purchased equipment on July 1, 2017 for $70,000. Sales tax on the purchase was $700. Other costs incurred were freight charges of $800, insurance during shipping of $ 150, repairs of $1,300 for damage during installation, and installation costs of $1,050. What is the cost of the equipment? O $71,500 O $72,700 $74.000 O $70,000 R V 1 M Qu Mu Qu

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Watanga Company purchased equipment on July 1, 2017 for $70,000. Sales tax on the purchase was $700. Other costs incurred were freight charges of $800, insurance during shipping of $ 150, repairs of...

o me but the laHey guys everything is prity much clear tst year entries can you please specify those records. Thanks. Page 16 question 19.9 in the file attached. Those records are as follows: 3....

Question: The problem that you will work on is Comprehensive Tax Return Problem 1. This problem will be divided into four parts. Each part will have you complete selected paragraphs from the problem....

This is my important final review for the test please give me a correct answers Please explain your answers: 1. Which of the following should be included in the physical inventory of a company? A)...

GRADING: Worth up to 15 points. Carefully READ the requirements on page 2 first. Partially completed problems will carn no credit that means all requirements must be FULLY completed. All work must be...

The problem that you will work on is Comprehensive Tax Return Problem 1. This problem will be divided into four parts. Each part will have you complete selected paragraphs from the problem. You must...

1. Notes or accounts receivables that result from sales transactions are often called a. sales receivables. b. non-trade receivables. c. trade receivables. d. merchandise receivables. 2. The term...

GENERAL INSTRUCTION : For problem solving, round off your answers to nearest peso. Answers should have NO peso sign. Example : 2,487,159 1. The SYD method of depreciation is being used for a machine...

1. What micro environmental factors have affected Sony's performance since 2000? 2. What macro environmental factors have affected Sony's performance during that period? , 3. What stands in the way...

Samuel has some land near I 10 just a few miles from Slidell, LA where he has an excellent crawfish, shrimp and barbecue restaurant. He has heard that the state might take the property under an...

13-2 A tobacconist sells four blends of pipe tobacco. Each of these blends contains three types of tobacco in the following proportions: Type of tobacco Blend K L M A 20% 50% 30% B 35 40 25 C 50 30...

The force constant of a massless spring is 2 5 . 0 N / m . A mass of 0 . 4 5 kg is oscillating in simple harmonic motion at the end of the spring

8-1. Market segmentation involves aggregating prospective buyers into groups that have two key characteristics. What are they?

Explain what market segmentation is and when to use it.

What might make a project unsuccessful during the termination process? LO4