During 2011, Ruby Corporation Purchased Three Pieces of Equipment at an Auction

question 64

Multiple Choice

During 2011, Ruby Corporation purchased three pieces of equipment at an auction for the lump sum of $200, 000.It cost Ruby $20, 000 to have the equipment delivered and installed.The equipment was appraised at the following values: $\begin{array}{ll}\text { Machine 1 } & \$ 120,000 \\\text { Machine 2 } & 105,000 \\\text { Machine 3 } & 75,000\end{array}$
Machine 2 should be recorded on Ruby's books at

• A)$105, 000
• B)$120, 000
• C)$ 77, 000
• D)$ 70, 000

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