MPG Industries Purchased a New Printing Press on January 2

question 102

Essay

MPG Industries purchased a new printing press on January 2, 2019 for a cost of $245,000. Transportation costs to have it delivered were $734. The floor had to have new supports because of the weight of the press. The new supports cost $2,540, which included installation. After the press was in place, two employees took training classes to learn how to use the press at a cost of
$1,600. The Equipment account is debited for what amount?

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Definitions:

Reverse Transcriptase

An enzyme that synthesizes DNA from an RNA template, pivotal in the lifecycle of retroviruses and in certain biotechnological applications.

cDNA

Complementary DNA synthesized from an mRNA template using the enzyme reverse transcriptase, used in cloning and gene expression studies.

mRNA

Messenger RNA, a single-stranded RNA molecule that carries genetic information from DNA to the ribosome, where it directs protein synthesis.

Genomic Library

A collection of DNA fragments that represents the entire genome of an organism.