Blossom Company purchased equipment on January 1 at a list price of $100000, with credit terms 2/10, n/30. Payment was made within the discount period. Blossom paid $3000 sales tax on the equipment and paid installation charges of $1500. Prior to installation, Blossom paid $3000 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment

the total cost of the new equipment is $105,500

Explanation:

The computation of the total cost of the new equipment is given below:

Total cost of the new equipment is

= Net price + Sales tax + Installation charges + Payment for concrete slab

= [$100,000 - ($100,000 × 2%)] + $3,000 + $1,500 + $3,000

= $105,500

Hence, the total cost of the new equipment is $105,500

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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