Question 34 2pts Construction Group paid 1200 for a plant as

Question 34 2pts Construction Group paid $12,00 for a plant asset $14,500. At $24,000 $6000 O $12000 ?$14,500 2pts 35

Solution

Question 34

Answer is option C 12,000

The asset should be recorded at the actual cost paid to acquire the asset.

Question 35

Answer is option C 16500

Amount of machine recorded = machine price + installation cost + insurance while in transit = 12000+3000+1500 =16500