Answer: The answer is given below
Explanation:
The schedule showing the amount recorded goes thus:
Particulars Amount($)
Purchase price 697000
Freight costs 33500
Electrical connection 4700
labor costs 36300
Bread dough used in testing oven
870
Safety Guards 1470
Total cost of equipment = 773840
The repairs cost 4700 is excluded because it is not a normal cost of the installation, therefore, it should be recorded as an expense in the income statement.