Blocker Company recently acquired two items of equipment. The transactions are described below:
June 10:
Acquired a press at an invoice price of $5,000, subject to a 2% cash discount which was taken. Costs of freight and insurance during shipment were $120. Installation costs were $250.
November 12:
Acquired a welding machine at an invoice price of $4,000, subject to a 3% cash discount which was NOT taken. Additional welding supplies were acquired at a total cost of $200.
The increase in the equipment account as a result of the above transactions would be
A) $9,150.
B) $9,270.
C) $9,370.
D) $9,570.
Correct Answer:
Verified
Q70: Which of the following best describes the
Q72: On May 1, 2011, Lenny Corporation purchased
Q74: One of the most critical steps in
Q76: On February 1, 2010, Reardon Corporation purchased
Q78: You have just been promoted to the
Q79: Assets constructed for a firm's own use
Q79: You are the auditor of Don Corporation,
Q80: The Callister Company exchanged 25,000 shares of
Q81: On January 1, 2011, Sky Airlines contracted
Q82: On December 1, 2011, Pyle Corporation exchanged
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents