Sylvia Supply Company, a calendar-year corporation, purchased a new scale for $495,000 on April 1, 2012. Additional costs of the scale included sales tax of 5 percent, freight-in of $17,400, and installation costs of $15,300. The scale has a useful life of 5 years with no salvage value.

Question

Quizplus · Accepted Answer

The Answer of Sylvia Supply Company, a calendar-year corporation, purchased a new scale for $495,000 on April 1, 2012. Additional costs of the scale included sales tax of 5 percent, freight-in of $17,400, and installation costs of $15,300. The scale has a useful life of 5 years with no salvage value.

Sylvia Supply Company, a Calendar-Year Corporation, Purchased a New Scale