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  • PPE List of Capitalizable - 3

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    The document outlines costs that should be included in a machinery account for accounting purposes if the machinery is purchased, including the purchase price, freight and handling costs, insurance during transit, installation costs, testing and commissioning costs, initial dismantling cost estimates, consultant fees, and any nonrefundable taxes. It also lists land improvement costs such as fences, water and drainage systems, sidewalks, pavements, and landscaping that can be capitalized.

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    PPE List of Capitalizable_3

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    The document outlines costs that should be included in a machinery account for accounting purposes if the machinery is purchased, including the purchase price, freight and handling costs, insurance during transit, installation costs, testing and commissioning costs, initial dismantling cost estimates, consultant fees, and any nonrefundable taxes. It also lists land improvement costs such as fences, water and drainage systems, sidewalks, pavements, and landscaping that can be capitalized.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    2 views1 page

    PPE List of Capitalizable - 3

    Uploaded by

    Second Year
    The document outlines costs that should be included in a machinery account for accounting purposes if the machinery is purchased, including the purchase price, freight and handling costs, insurance during transit, installation costs, testing and commissioning costs, initial dismantling cost estimates, consultant fees, and any nonrefundable taxes. It also lists land improvement costs such as fences, water and drainage systems, sidewalks, pavements, and landscaping that can be capitalized.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Machinery Account

    If purchased
    a Purchase Price
    b Freight, handling, storage and other cost related to acquisition
    c Insurance while in transit
    d Installation cost, include site preparation and assembling
    e Cost of testing and trial run, and other cost necessary in preparing
    the machinery for its intended use
    f Initial Estimate of cost of dismantling and removing the machinery
    and restoring the site on which it is located, and for which the
    entity has a present obligation
    g Fee paid to consultants for advice on the acquisition of machinery
    h Cost of safety rail and platform surrounding machine
    i Cost of water device to keep machine cool
    j Irrecoverable or Nonrefundable Purchase Tax

    Land Improvements
    a Fences
    b Water Systems
    c Drainage Systems
    d Sidewalks
    e Pavements
    Cost of Trees, Shrubs, Landscaping

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