Multiple Choice
Harvard Company purchased equipment having an invoice price of $11,500.The terms of sale were 2/10,n/30,and Harvard paid within the discount period.In addition,Harvard paid a $160 delivery charge,$185 installation charge,and $931 sales tax.The amount recorded as the cost of this equipment is:
A) $11,845.
B) $12,776.
C) $11,615.
D) $12,546.
Correct Answer:
Verified
Correct Answer:
Verified
Q99: Book value represents the cost of an
Q100: Caan purchased the Stokes Mine for $60
Q101: Depreciation in financial statements<br>Dynasty Co.uses straight-line depreciation
Q102: Accumulated depletion is a contra-equity account and
Q103: Sum-of-the-years' digits is a popular depreciation method
Q105: The basic purpose of the matching principle
Q106: U.S.GAAP requires a company to capitalize goodwill
Q107: Machinery acquired new on January 1 at
Q108: Straight-line is the most widely used depreciation
Q109: Annual depreciation expense is increased when salvage