Equipment was purchased for $60,050 plus $1,123 in freight charges. Installation costs were $2,128 and sales...
Equipment was purchased for $60,050 plus $1,123 in freight charges. Installation costs were $2,128 and sales tax totaled $5,453. The increase in net working capital was $4,829. What is this asset's depreciable basis? DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ENTER YOUR ANSWER TO THE NEAREST DOLLAR (e.g. 1250).
Homework Answers
Total Asset's Depreciable basis
Equipment cost =$60,050
Freight charges = $1,123
Installation cost = $2,128
Sales Tax = $4,829
Total Asset's Depreciable basis = $68,754
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