Kegler Bowling installs automatic scorekeeping equipment with an invoice cost of $195,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $14,015 for sales tax. During the installation, a component of the equipment is carelessly left on a lane and hit by the automatic lane-cleaning machine. The cost of repairing the component is $1,900.
a. What is the total recorded cost of the automatic scorekeeping equipment?
b. Known liabilities:
a. Include accounts payable, notes payable, and payroll
b. Are obligations set by agreements, contracts, or laws
c. Are measurable
d. Are definitely determinable
e. All of the choices are correct
Answers: 3
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Kegler Bowling installs automatic scorekeeping equipment with an invoice cost of $195,000. The elect...
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