question archive On October 10, 20X1 Black Company purchased a new machine
On October 10, 20X1 Black Company purchased a new machine
Subject:BusinessPrice: Bought3
On October 10, 20X1 Black Company purchased a new machine. The company paid $300,000 in cash. It also cost Black $8,000 to have the equipment delivered, $3,000 for a one-year insurance policy and $40,000 to install and calibrate the equipment. How much will be capitalized to the machinery account? A) $348,000 B) $310,000 C) $308,000 D) $340,000
