Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $10,100,...

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Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $10,100, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $202 discount. Transportation costs of $228 were paid by Rizio. The machine required mounting and power connections costing $698. Another $329 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $190 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment: Invoice price of machine $ 10,100 Less: Discount 202 Net purchase price 9,898 Transportation 228 Total cost to be recorded $ 10,126 Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $10,100, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $202 discount. Transportation costs of $228 were paid by Rizio. The machine required mounting and power connections costing $698. Another $329 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $190 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment: Invoice price of machine $ 10,100 Less: Discount 202 Net purchase price 9,898 Transportation 228 Total cost to be recorded $ 10,126