Equipment was purchased for $73,200 plus $1,308 in freight charges. Installation costs were $4,960 and sales...
Equipment was purchased for $73,200 plus $1,308 in freight charges. Installation costs were $4,960 and sales tax totaled $4,482. The increase in net working capital was $3,176. What is this asset's depreciable basis?
Homework Answers
Ans : Assets Depreciable basis = Cost of the asset + Freight charges + Installation cost + Sales tax
= $ 73,200 + $ 1,308 + $ 4,960 + $ 4,482
= $ 83,950.
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