A company purchased equipment for 2 8 , 0 0 0 in addition to the purchase price

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A company purchased equipment for

28, 000

in addition to the purchase price the company made the following expenditures related to the equipment before it was ready to be used in production shipping $

1000

assembly $

1000

installation

1500

testing

2000

annual insurance

1200

how much does the company record as the cost of the equipment?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Apr 01, 2024 05:15 AM

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A company purchased equipment for 2 8 , 0 0 0 in addition to the purchase price

Question:

Expert Answer:

The company should record a total cost of 286700 for the equipment Heres the breakdown Purchase pric... View the full answer

Income Tax Fundamentals 2013

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