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31 January, 13:56

ZETO Company acquired a new construction crane. The crane cost $1,000,000. In addition, Zeto paid delivery cost of $50,000, setup and installation of $75,000, and truck repairs of $5,000 (it seems that during setup, a large beam was accidentally dropped on the hood of one of Zeto's trucks).

ZETO should record the crane in its accounting records at:

a. $1,000,000

b. $1,050,000

c. $1,075,000

d. $1,125,000

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Answers (1)
  1. C
    31 January, 17:21
    0
    Total cost = $1,125,000

    Explanation:

    Giving the following information:

    The crane cost $1,000,000. Also, Zeto paid delivery cost of $50,000, setup and installation of $75,000, and truck repairs of $5,000.

    Total cost = purchase price + freight + set up and installation

    Total cost = 1,000,000 + 50,000 + 75,000 = 1,125,000
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Home » Business » ZETO Company acquired a new construction crane. The crane cost $1,000,000. In addition, Zeto paid delivery cost of $50,000, setup and installation of $75,000, and truck repairs of $5,000 (it seems that during setup, a large beam was accidentally
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