Oliver Ltd purchased a piece of equipment for $20 000. It paid GST of $2000, shipping charges of $500, and insurance during transit of $200. Installation and testing of the new equipment cost $1000. The total to be debited to the Equipment account is:
A: $22 000
B: $22 700
C: $23 000
D: $23 700
A: $22 000
B: $22 700
C: $23 000
D: $23 700
举一反三
- 中国大学MOOC: A company purchased an equipment by paying $26, 000 cash. When this transaction is recorded, the cash account is debited for $26, 000.
- R company sold old equipment for $25 000. The equipment had a cost of $50 000 and accumulated depreciation of $30 000. The entry to record the sale of the equipment would include a ( ). A: loss on disposal of $25 000 B: gain on disposal of $25 000 C: loss on disposal of $5 000 D: gain on disposal of $5 000
- Which one of the following would be an error of principle? A: Plant and machinery purchased was credited to a non-current assets account B: Plant and machinery purchased was debited to the purchases account C: Plant and machinery purchased was debited to the equipment account D: Plant and machinery purchased was credited to the equipment account
- The Department purchased ______ to improve the working conditions there. A: a new equipment B: a new piece of equipment C: new equipments D: new pieces of equipments
- FastForward purchased $25,000 of equipment for cash. The Equipment asset account is _______________ for $25,000 and the cash account is _______________ for $25,000.