Waterloo Corporation purchased factory equipment for a cost of $1,800,000.It cost $100,000 for its delivery,$220,000 for its installation and modifications to the production building,and $60,000 in interest costs on borrowed funds used to acquire the equipment.What is the acquisition cost of the new equipment?

Question

Quizplus · Accepted Answer

The Answer of Waterloo Corporation purchased factory equipment for a cost of $1,800,000.It cost $100,000 for its delivery,$220,000 for its installation and modifications to the production building,and $60,000 in interest costs on borrowed funds used to acquire the equipment.What is the acquisition cost of the new equipment?

Waterloo Corporation Purchased Factory Equipment for a Cost of $1,800,000