Ask Question
BusinessBusiness
18 December, 11:45

Sunland Company purchased equipment for $32500. Sales tax on the purchase was $1550. Other costs incurred were freight charges of $420, repairs of $700 for damage during installation, and installation costs of $440. What is the cost of the equipment? A. $35610. B. $34050. C. $32500 D. $34910

+3
Answers (2)
  1. 18 December, 13:22
    0
    Total cost of equipment = $34,870

    Explanation:

    Given dа ta:

    purchase Cost of equipment = $32500

    salex tax on item is $1550

    freight charge $420

    repair cost $700

    installation = $400

    cost of equipment calculated as follow

    Total cost of equipment = purchase cost + sales tax on item + freight charges + installation cost

    Total cost of equipment = 32500 + 1550 + 420 + 400

    Total cost of equipment = $34,870
  2. 18 December, 14:02
    0
    D. $34910

    Explanation:

    The computation of the equipment cost is shown below:

    = Purchase value of equipment + sales tax on purchase + freight charges incurred + installation cost

    = $32,500 + $1,550 + $420 + $440

    = $34,910

    For computing the equipment cost we added the purchase value, sales tax, freight charges and the installation cost

    The damages cost is not a part of the cost of equipment
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Sunland Company purchased equipment for $32500. Sales tax on the purchase was $1550. Other costs incurred were freight charges of $420, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which statement applies to the commodities exchange? A) It begins in the 20th century B) It is a marketplace for manufactured goods. C) it exists only in undeveloped countries. D) It has a set of regulations that must be followed.
Answers (1)
On January 1, Luther Co. issued a $1,000,000, five-year, 8% installment note payable with payments of $250,456 principal plus interest due on January 1 of each year for the next five years. Required: 1.
Answers (1)
Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred: Jackson invested $25,000 cash in the business in exchange for common stock.
Answers (1)
Randy agreed to join a biology study group. when the study group leader gave him her phone number, he had nothing with which to record the number.
Answers (1)
Suppose you just graduated from college and are deciding on a career. your four career options are
Answers (1)
New Questions in Business
Assignable causes: A) are not as important as natural causes. B) are within the limits of a control chart. C) depend on the inspector assigned to the job. D) are also referred to as "chance" causes.
Answers (1)
Madison's gross tax liability is $9,000. Madison had $3,000 of tax credits available and she had $8,000 of taxes withheld by her employer. What is Madison's taxes due (or taxes refunded) with her tax return? $0 taxes due and $0 tax refund.
Answers (1)
In perfect competition A. the market demand curve and the individual's demand curve are identical. B. the market demand curve is perfectly inelastic while demand for an individual seller's product is perfectly elastic. C.
Answers (1)
With regard to how people use time and their expectations of how it should be managed, members of which type of culture value efficiency production and fast results?
Answers (1)
How would u approach a fellow co-worker consistently does not perform hand-hygiene when it is indicated or appropriate.
Answers (1)
Home » Business » Sunland Company purchased equipment for $32500. Sales tax on the purchase was $1550. Other costs incurred were freight charges of $420, repairs of $700 for damage during installation, and installation costs of $440.
Sign Up Forgot Password?