Saturday, October 10, 2020

A company purchased new equipment for $60,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,000 sales tax paid $3,000 and installation cost, $2,500. The cost recorded for the equipment was:

A company purchased new equipment for $60,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,000 sales tax paid $3,000 and installation cost, $2,500. The cost recorded for the equipment was:



A) $60,000.

B) $61,000.

C) $64,000.

D) $66,500.


Answer: D

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