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On March 1, Wright Company purchased new equipment for $50,000 by paying cash. Other costs associated with the equipment were: transportation costs, $1,000; sales tax paid $4,000; and installation cost, $2,500. At what amount will the equipment be recorded on a balance sheet? A. $57,500. B. $54,000. C. $51,000. D. $53,500.

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Karabo99

Answer:

A. $57,500

Explanation:

Total amount recorded in balance sheet

= New Equipment + Transportation cost + Installation cost + Sales tax paid

= $500,000 + $10,000 + $2,500 + $4,000

= $57,500

Therefore, The amount thatthe equipment will be recorded on a balance sheet is $57,500.

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