the following expenditures relate to machinery purchased by callabasas manufacturing: purchase price$ 16,000 transportation costs800 installation500 testing2,000 repair of part broken during shipment300 at what amount should callabasas capitalize the machinery?

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21-10-2022
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the following expenditures relate to machinery purchased by callabasas manufacturing: purchase price$ 16,000 transportation costs800 installation500 testing2,000 repair of part broken during shipment300 at what amount should callabasas capitalize the machinery?

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shardiksh890 shardiksh890 · Answer 1 · 2022-10-25T14:43:50+02:00

At $19,300 Callabasas should capitalize the machinery. All expenses incurred to bring an asset to a usable state are capitalized as part of the asset.

What percentage of the equipment's cost should be capitalized?

All expenses incurred to bring an asset to a usable state are capitalized as part of the asset. They include installation costs, labor charges if it needs to be built, transportation costs, and so on. Capitalized costs are initially recorded at their historical cost on the balance sheet.

amount to capitalize the machinery= purchase price+ transportation costs+ installation + testing

16000+800+500+200= $19,300

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