Accounting MCQ
Accounting
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 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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