Answer:
$ 950
Explanation:
Cobra Inc. purchased two desks during March and both of the should be aggregated for purposes of reporting. It is not relevant whether the desks were paid for cash or on credit, and the fact that part of the payables were settled has also no effect on the reporting value.
One thing to consider is the depreciation charge for the month, but since the question does not provide the useful lives it has not been considered.
if the company has a capitalization policy of a certain value threshold and if these values are below that threshold then this would be classified as expenses for office equipment but the value would remain the same.
