A machine is purchased for $80,000. The transportation from the seller was $1000, installation costs were $1000 and taxes on the purchase price were $400. Testing runs of the new machine cost $2000. What is the cost of the machine?
A) $80,000
B) $82,000
C) $82,400
D) $84,400
Correct Answer:
Verified
Q7: A lump-sum purchase of multiple,long-term plant assets
Q11: The cost of land includes the cost
Q12: The cost of a new building includes
Q16: Gengler Company acquired three pieces of equipment
Q18: ABC Company purchased land with an old
Q24: Capital expenditures are not immediately expensed because
Q25: On January 1, 2017, Roadway Delivery Company
Q26: On June 1, Roadway's Trucking Company paid
Q31: Expenditures that extend a plant asset's useful
Q38: The distinction between a capital expenditure and
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