How much should stockton corporation capitalize as the cost

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Reference no: EM13134238

Stockton Corporation purchased equipment for $32,000. Stockton also paid $400 for freight and insurance while the equipment was in transit. Sales tax amounted to $240. Insurance, taxes, and maintenance the first year of use cost $1,000. How much should Stockton Corporation capitalize as the cost of the equipment?

Reference no: EM13134238

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How much should stockton corporation capitalize as the cost : Stockton Corporation purchased equipment for $32,000. Stockton also paid $400 for freight and insurance while the equipment was in transit. Sales tax amounted to $240. Insurance, taxes, and maintenance the first year of use cost $1,000. How much s..

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