W bought a new printing machine. The cost of the machine was $80,000. The installation costs were$5,000 and the employees received training on how to use the machine, at a cost of $2,000. Beforeusing the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?$85.000$80, 00088, 000$86.000

W bought a new printing machine. The cost of the machine was $80,000. The installation costs were$5,000 and the employees received training on how to use the machine, at a cost of $2,000. Beforeusing the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?$85.000$80, 00088, 000$86.000

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter9: Acquisitions Of Property

Section: Chapter Questions

Problem 46P

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