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: Machine 1 $120,000 Machine 2 105,000 Machine 3 75,000 Machine 2 should be recorded on Ruby's books at Answer $105,000 $120,000 $ 77,000 $ 70,000

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:

 

 

Machine 1	$120,000
Machine 2	105,000
Machine 3	75,000

 

 

Machine 2 should be recorded on Ruby's books at

Answer

		$105,000
		$120,000
		$  77,000
		$  70,000

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