On 1 June 2018 Robyn Ltd (Robyn) acquired a machine from Plant-R-Us Ltd under the following...

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On 1 June 2018 Robyn Ltd (Robyn) acquired a machine from Plant-R-Us Ltd under the following terms (see the table below). In addition, Robyn was granted a trade discount of 10% on the initial listed price of the asset and a settlement discount of 5% if payment for the machine was received within one month of purchase. Cash was paid by Robyn on 26 June 2018. On what amount, should the plant be initially measured on 1 June 2018? Listed price of machine Freight insurance Freight cost Assembly costs Pre-production testing O $88,400 O $100,000 $92,000 $ O $88,000 $ Purchase of a ten-year maintenance contract with the Plant $ $ $ $ 80,000 1,000 2,000 5,000 12,000 10,000 On 1 June 2018 Robyn Ltd (Robyn) acquired a machine from Plant-R-Us Ltd under the following terms (see the table below). In addition, Robyn was granted a trade discount of 10% on the initial listed price of the asset and a settlement discount of 5% if payment for the machine was received within one month of purchase. Cash was paid by Robyn on 26 June 2018. On what amount, should the plant be initially measured on 1 June 2018? Listed price of machine Freight insurance Freight cost Assembly costs Pre-production testing O $88,400 O $100,000 $92,000 $ O $88,000 $ Purchase of a ten-year maintenance contract with the Plant $ $ $ $ 80,000 1,000 2,000 5,000 12,000 10,000

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