Question

Kegler Bowling buys scorekeeping equipment with an invoice cost of $165,000. The electrical work required for the installation costs $17,000. Additional costs are $3,400 for delivery and $11,865 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,600. What is the total recorded cost of the scorekeeping equipment?

Answer 1

The scorekeeping equipment amounted to $198,865 recorded as a cost of equipment.

What is an Equipment?

The collection of items or physical resources needed to outfit a person or object, such as the tools utilized during a task or operation of sporting goods equipment, all of a corporate enterprise's fixed assets, except land and buildings.

The calculation for the Total recorded Cost

Invoice cost + Installation cost + Additional Cost + Delivey charges + cost of Repair

= 165,000 + 17,000 + 3,400 + 11,865 + 1,600= $198,865

The Total recorded cost is $198,865.

Thus, the total recorded cost consists of all the costs of equipment including the purchase price, applicable sales taxes, shipping charges, and any additional expenses for preparing the item for use.

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