Ask Question
15 September, 09:54

Presto company purchased equipment and these costs were incurred: cash price $65,000 sales taxes 3,600 insurance during transit 640 installation and testing 860 total costs $70,100 presto will record the acquisition cost of the equipment as

+1
Answers (1)
  1. 15 September, 09:55
    0
    Given:

    cash price $65,000

    sales taxes 3,600

    insurance during transit 640 i

    nstallation and testing 860

    total costs $70,100

    Presto will record the acquisition cost of the equipment as $70,100.

    Acquisition cost is the cost of buying an equipment as well as the cost paid in making sure that the equipment is in working order. A cost is recognized as a part of an acquisition cost when its absence is detrimental to the purchase of the item.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Presto company purchased equipment and these costs were incurred: cash price $65,000 sales taxes 3,600 insurance during transit 640 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers