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