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24 April, 07:37

Fogelberg Company purchased equipment for $30,000. Sales tax on the purchase was $1,500. Other costs incurred were freight charges of $400, repairs of $700 for damage during installation, and installation costs of $450. What is the cost of the equipment?

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  1. 24 April, 08:21
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    Cost of the equipment = $32350

    Explanation:

    given data

    purchased equipment = $30,000

    Sales tax = $1,500

    freight charges = $400

    repairs = $700

    installation costs = $450

    solution

    we get here Cost of the equipment that is express as

    Cost of the equipment = Purchase cost + Sales tax paid + Freight + Installation cost ... 1

    put here value and we will get

    Cost of the equipment = $30000 + $1500 + $400 + $450

    Cost of the equipment = $32350
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