Correct! All costs necessary to get the asset ready to use should be included as part of the cost of the equipment because these are the costs that are necessary to acquire, safely transport, and prepare it for its intended use ($24,000 + $1,200 + $200 = $25,400). The annual maintenance costs are expensed, not capitalized.  	  Corristan Company purchased equipment and incurred these costs: Cash price		$24,000 Sales taxes		1,200 Insurance during transit		200 Annual maintenance costs		____400 To | eBooks | Education

Correct! All costs necessary to get the asset ready to use should be included as part of the cost of the equipment because these are the costs that are necessary to acquire, safely transport, and prep...

Correct! All costs necessary to get the asset ready to use should be included as part of the cost of the equipment because these are the costs that are necessary to acquire, safely transport, and prep... PLDZ-5983 Free
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Correct! All costs necessary to get the asset ready to use should be included as part of the cost of the equipment because these are the costs that are necessary to acquire, safely transport, and prepare it for its intended use ($24,000 + $1,200 + $200 = $25,400). The annual maintenance costs are expensed, not capitalized.

 

 

Corristan Company purchased equipment and incurred these costs:

Cash price

$24,000

Sales taxes

1,200

Insurance during transit

200

Annual maintenance costs

____400

Total costs

$25,800

What amount should be recorded as the cost of the equipment?

http://issuu.com/lucky269/docs/uoptutorial.docx

 

 

$25,800

 

$25,400

 

$24,000

 

$25,200

Correct! All costs necessary to get the asset ready to use should be included as part of the cost of the equipment because these are the costs that are necessary to acquire, safely transport, and prepare it for its intended use ($24,000 + $1,200 + $2
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