Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gray company purchased equipment for $120,000 on 1

Gray company purchased equipment for $120,000 on 1/2/23. Gray also incurred the following additional costs...

70.2K

Verified Solution

Question

Accounting

Gray company purchased equipment for $120,000 on 1/2/23. Gray also incurred the following additional costs for this equip tenant:

1/3/23 freight to ship equipment to grays location $2,500

1/5/23 setup cost $6,000

2/15/23 correction of malfunction $3,500

How much of the above costs are charged to the equipment?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Cancer/Viral Scenarios Worksheet: For each scenario, diagram and/or explain the activities of the cells involved including the...

Psychology
1.2K views

1. Please briefly describe your own beliefs about what makes human beings do, think, and feel,...

Electrical Engineering
1.2K views

1. Two electric charges, the first value + 3Q and the second value + 2Q are...

Electrical Engineering
1.2K views

A resonant loop antenna of closely spaced 8 turns is operating at 100 MHz. The radius...

Biology
1.2K views

Explain these techniques a SDS PAGE b 2D SDS PAGE c Two color 2D SDS...

Calculus
1.2K views

Find all real zeros of Enter the real zeros

Accounting
1.2K views

Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the...

Accounting
1.2K views

EXERCISE 21-21 Revised AD Rauch Inc....

Accounting
1.2K views

Carla Vista Limited had 42,600 common shares outstanding on January 1, 2020. On March 1,...

Accounting
1.2K views

Assume that a Parent company acquires a 60% interest in its Subsidiary on January 1,...

Accounting
1.2K views

Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior...

Accounting
1.2K views

Presented are the separate-entity and consolidated balances for Delicate Delights Corporation (DDC) and its subsidiary,...