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Calculate the amount to be capitalised for the machine

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XYZ Enterprises purchased a heavy machine for $28000, terms 1/10, n/60,FOB shipping point. It received a freight invoice from Fast Delivery for $450.XYZ took advantage of the discount. It also required a special steel mounting and power connection costing $985 and another &600 was paid to put the machine into operation. However due to mishandling during installation a part was damaged and had to be replaced for $380.Another $310 was paid to labour as installation charges. Special insurance @200 per month was needed henceforth.

Question 1: Calculate the amount to be capitalised for the machine

Reference no: EM132463734

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