- low cost insurance
- car insurance cost
- data acquisition hardware
Invoice price $20,000
Applicable sales tax 1,200
Cash discount taken for prompt payment 400
Freight paid 260
Cost of insurance coverage on machine while in transit 125
Installation costs 1,000
Testing and adjusting costs 475
Repair of damages to machine caused by the firm’s employees 550
Prepaid maintenance contract for first year of machine’s use 300
Total Acquisition cost?
Applicable sales tax 1,200
Cash discount taken for prompt payment 400
Freight paid 260
Cost of insurance coverage on machine while in transit 125
Installation costs 1,000
Testing and adjusting costs 475
Repair of damages to machine caused by the firm’s employees 550
Prepaid maintenance contract for first year of machine’s use 300
Total Acquisition cost?
Accounting Acquisition Cost?
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