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  3. granite company purchased a machine costing $129.9

Granite Company purchased a machine costing $129.980. Granite paid freight charges of $3,400. The machine...

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Accounting

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Granite Company purchased a machine costing $129.980. Granite paid freight charges of $3,400. The machine requires special mounting and wiring connections costing $11.400. When installing the machine, $2,900 in damages occurred. Compute the cost recorded for this machine. Multiple Choice $144,980 $144,780. S154,400 o o o o $129,980 $144,280 An asset's book value is $20,000 on December 31, Year 5. Assuming the asset is sold on December 31, Year 5 for $13,000, the company should record: Multiple Choice A loss on sale of $12,500. O O A loss on sale of $7,000. Neither a gain nor a loss is recognized on this transaction. O A gain on sale of $12,500. Again on sale of $7,000

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