Business, 27.05.2020 23:59 mystury

Capitalizing costs (LO 11-2) Phoenix Co. acquired a large piece of specialized machinery used in its manufacturing process. The following costs were incurred in connection with the acquisition: Finder’s fee $ 2,000 List price 230,000 Transportation fee 4,000 Speeding ticket during transportation 65 Installation fee 2,500 Cost to repair a door damaged during installation 1,200 Required: Which of the costs incurred by Phoenix Co. should be capitalized to the machinery account?

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Capitalizing costs (LO 11-2) Phoenix Co. acquired a large piece of specialized machinery used in its...

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