Business, 07.05.2020 14:57 macwaters

Mad Hatter Enterprises purchased new equipment for $358,000, terms f. o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax $ 28,500 Freight costs 4,900 Insurance while in transit 730 Insurance after equipment placed in service 1,130 Installation costs 1,650 Insurance for the first year of operations 2,050 Testing 630 Required: Determine the capitalized cost of the equipment.

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Mad Hatter Enterprises purchased new equipment for $358,000, terms f. o.b. shipping point. Other cos...