Presto Company purchased equipment and these costs were incurred: $$\begin{array} { l r }
\text { Cash price } & \$ 65,000 \
\text { Sales taxes } & 3,600 \
\text { Insurance during transit } & 640 \
\text { Installation and testing } & \underline{ 860} \
\text { Total costs } & \underline{ \underline{\$ 70,100}}
\end{array}$$ Presto will record the acquisition cost of the equipment as

Question

Presto Company purchased equipment and these costs were incurred: $$\begin{array} { l r } 
\text { Cash price } & \$ 65,000 \
\text { Sales taxes } & 3,600 \
\text { Insurance during transit } & 640 \
\text { Installation and testing } & \underline{ 860} \
\text { Total costs } & \underline{ \underline{\$ 70,100}}
\end{array}$$ Presto will record the acquisition cost of the equipment as

Quizplus · Accepted Answer

The Answer of Presto Company purchased equipment and these costs were incurred: $$\begin{array} { l r } 
\text { Cash price } & \$ 65,000 \
\text { Sales taxes } & 3,600 \
\text { Insurance during transit } & 640 \
\text { Installation and testing } & \underline{ 860} \
\text { Total costs } & \underline{ \underline{\$ 70,100}}
\end{array}$$ Presto will record the acquisition cost of the equipment as

Presto Company Purchased Equipment and These Costs Were Incurred Presto Will Record the Acquisition Cost of the Equipment as