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Invoiced price of Equipment: Rs 80,000
Cash discount allowed 2% of invoice Rs 1,600
Freight in paid – Rs 3000
Speeding ticket given to (our) truck driver while delivery of equipment Rs 250
Installation costs Rs 1,500
Sales Tax on purchase Rs 3080
Repair of damage to equipment because of damage caused by equipment being accidently dropped off the truck Rs 2,000WHAT IS THE FINAL AMOUNT THAT WILL BE CAPITALIZED IN THE EQUIPMENT ACCOUNT
i appreciate that you are new to ACCA, but please post this sort of question in one of the forums for the relevant exam paper (which I assume is Paper F3), and not in this general forum.
However, do not simply post a full question and expect a full answer. Unless you have been given it as a test, then you must have an answer in the same book in which you found the question – so ask about whatever it is in the answer that you are not clear about. Then we will help you.
If you have been given it as a test, then we do not do your homework for you. Post what you think the answer is and then we will tell you whether or not we agree.
Finally, assuming that it is a Paper F3 question, then have you watched our free lectures? The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
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