Use the following information to answer the given question,

$\begin{array}{c|c} & N\\ \hline \text{Purchase price of equipment} & 60,000\\ \text{Freight and installation cost} & 10,000 \\ \text{Annual maintenance cost} & 1,000\\ \text{Estimated useful life - 5 years} & \\ \text{Estimated scrap value} & 2000 \end{array}$

What is the total acquisition cost of the equipment?

Similar Questions

Unpresented cheques are cheques_________ ...

Which of the following in a classified form contains a permanent record of all transactions? The ...

The use of the folio in the ledger is for ...

In a three-column cash book, dishonored cheques will be shown on the ...

Items on the left-hand side of a total debtors account are debits in the ...

A bookkeeper debited Motor Vehicle Account instead of Motor Expenses Account. This is an error of ...

A trial balance is prepared to ...

Given: Drawings - #3,500 Net loss - #2,500 Capital 1/1/2007 - #35,000 Additional capital - #10...

The purchase day book is used to record ...

Where records maintained are inadequate to facilitate the preparation of a trading and profit and lo...