Solved: Installation cost 1000 and annual insurance on assets 3500, Accounting Basics

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Installation cost 1000 and annual insurance on assets 3500

Question - The following information is given: Invoice price of the equipment $50,000, Freight costs for delivery to premises $1,050, Freight Insurance $100, Installation cost $1,000, and annual insurance on assets $3,500. (All amounts indicated are GST exclusive). What is the acquisition cost of the equipment?

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Accounting Basics: Installation cost 1000 and annual insurance on assets 3500

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Accounting Basics: Installation cost 1000 and annual insurance on assets 3500

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