Use the following information to answer the giv... - WAEC Accounting 2004 Question
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?
\(\begin{array}{c|c} & N\ \hline \text{Purchase price of equipment} & 60,000\ \text{Freight and installation cost} & 10,000 \ \text{Annual maintenance cost} & 1,000\ \text{Estimated useful life - 5 years} & \ \text{Estimated scrap value} & 2000 \end{array}\)
What is the total acquisition cost of the equipment?
A
N76,000
B
N72,000
C
N70,000
D
N60,000
correct option: c
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