Business, 25.04.2020 01:06 nev322

Oval Company, acquired a machine that involved the following expenditures and related factors:

Gross invoice price $76,000
Sales tax 2,850
Cash discount taken 1,140
Freight 1,350
Assembly of machine 1,800
Installation of machine 2,700
Assorted spare parts for future use 5,400
Tuning and adjusting machine before use 900

The initial accounting cost of the machine should be:

a. $87,010
b. $85,600
c. $84,460
d. $89,860

Answers: 1

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Oval Company, acquired a machine that involved the following expenditures and related factors: