Rains Company Purchased Equipment on January 1 at a List

question 68

Multiple Choice

Rains Company purchased equipment on January 1 at a list price of $125000 with a 2% discount if payment is made within a 10-day discount period.Payment was made within the discount period.Rains paid $6250 sales tax on the equipment and paid installation charges of $2200.Prior to installation Rains paid $5000 to pour a concrete slab on which to place the equipment.What is the total cost of the new equipment?

• A)$131250.
• B)$135950.
• C)$138450.
• D)$126250.

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Definitions:

Genetic Basis

The underlying genetic contribution to a trait, behavior, or disorder, determined by genes inherited from one's parents.

Type I Alcoholism

A subtype of alcoholism that is characterized by late onset, often associated with environmental factors rather than genetics.

Type II Alcoholism

A classification within the domain of alcoholism that typically entails an early onset, genetic predisposition, and a high propensity to seek risk and impulsive behaviors.

Schizophrenia

A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception, inappropriate actions and feelings, withdrawal from reality into fantasy and delusion, and a sense of mental fragmentation.