Cost of a fixed nbspassetcolson photography service, Ask an Expert

Accounting

COST OF A FIXED ASSET

Colson Photography Service purchased a new digital imaging machine on April 15 for $13,400. During installation Colson incurred and paid in cash the following costs:

Rental of drill	$150
Electrical contractor	400
Plumbing contractor	190

Colson also paid $160 to replace a bracket on the digital imager that was damaged when one of Colson's employees dropped a box on it while it was being installed.

Required:

1. Determine the cost of the digital imaging machine.

2. Explain why you included or excluded the $160 bracket replacement cost.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91609728

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