Carbon Manufacturing Company made these expenditures related to PPE in 2019: ---Purchase of factory machine. List price

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Carbon Manufacturing Company made these expenditures related to PPE in 2019:

---Purchase of factory machine. List price was $110,000 and paid 95% of this.

---Sales taxes on factory machine. $2,500

---Shipping cost to get factory machine to factory. $3,000

---Installation and testing of factory machine. $9,000

---Insurance on the factory machine for the year after it was purchased. $2,000

---Minor repairs on the factory machine after 2 months. $2,500

What is the cost of the factory machine?

$113,500

$110,000

$123,500

$119,000

Related Book For answer-question

Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Posted Date: Dec 08, 2020 01:17 AM

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Carbon Manufacturing Company made these expenditures related to PPE in 2019: ---Purchase of factory machine. List price

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The correct answer is d 119000 workings Particulars Amount List price after adjusting dis... View the full answer

Financial Accounting Tools for business decision making

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