Reference no: EM132704316
Problem 1: A new machine with a purchase price of $94,000, transportation costs of $8,000, installation costs of $6,000, and sales tax of $2,000, would have a cost basis of
Option 1: $ 96,000
Option 2: $102,000
Option 3: $108,000
Option 4: $110,000
Problem 2: Which of the following payroll taxes are paid by the employee?
Option 1: SUTA taxes
Option 2: FUTA taxes
Option 3: Federal withholding
Option 4: all of the above
Problem 3: Which of the following should not be included in the initial cost of a piece of equipment?
Option 1: installation costs
Option 2: Repairs to the machine for damage incurred during delivery
Option 3: freight costs
Option 4: testing costs before putting the equipment into use
Problem 4: Which of the following is included in the cost of land?
Option 1: past due real estate taxes paid by the buyer
Option 2: fences on the land
Option 3: outdoor lighting for a parking lot
Option 4: cost of paving a parking lot2.5 points
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: A new machine with a purchase price of $94,000, transportation costs of $8,000, installation costs of $6,000, and sales tax of $2,000, would have a cost basis?
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