A company purchased a piece of equipment by paying $15,000 cash. A shipping cost of $900...
- A company purchased a piece of equipment by paying $15,000 cash. A shipping cost of $900 to get the equipment to its factory was also incurred. The fair value of the equipment was $9,000 at the time of the purchase. For what amount should the company record the equipment?
- $15,000.
- $15,900.
- $9,000.
- $9,900
Homework Answers
Solution:
Amount at which company record the equipment = Equipment purchase pride + Shipping cost
= $15,000 + $900 = $15,900
Hence option B is correct.
Add Answer to:
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