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2 printing presses. One printing press was new, and the Costs of Acquiring Fixed Assets...

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Accounting

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2 printing presses. One printing press was new, and the Costs of Acquiring Fixed Assets Melinda Stoffers owns and operates ABC Print Co. During February, ABC incurred other was purchased from a business that recently filed for bankruptcy. a. Indicate which costs incurred in acquiring the new printing press (1-6 below) should be Item . 1. Fee paid to factory representative for installation - 2. Freight Insurance while in 4. New parts to replace those 5. Sales tax on purchase price 6. Special foundation b. Indicate which costs incurred in acquiring the used printing press (7-12 below) should be debited to b. Indicate which costs incurred in acquiring the used printing press (7-12 below) should be debited to the asset account. Item Debited to asset account 7. Fees paid to attorney to review purchase agreement 8. Freight 9. Installation 10. Repair of damage incurred in reconditioning the press 11. Replacement of worn-out parts 12. Vandalism repairs during installation Check My Work 7 more Check My Work uses remaining

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