Multiple Choice Question 72
Vaughn Company purchased equipment and these costs were
incurred:
Cash price | $64900 |
Sales taxes | 3200 |
Insurance during transit | 620 |
Installation and testing | 890 |
Total costs |
$69610 |
Vaughn will record the acquisition cost of the equipment as
$68720. |
$69610. |
$64900. |
$68100. |
Acquisition cost of machine
= Cash + Sales tax + Insurance during transit + Installation and testing
= 64,900+3200+620+890
= 69610
Option B is the answer
Multiple Choice Question 72 Vaughn Company purchased equipment and these costs were incurred: Cash price $64900 Sal...
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