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Norman Geological Surveys

Norman Geological Surveys located in Baltimore, Maryland purchased surveying equipment from a manufacturer, in Raleigh, North Carolina for $26,700. Norman incurred the following additional charges in relation to the equipment:
  • Total Freight from Raleigh to Baltimore $2520. Norman and the seller divided these charges amongst themselves in the following ratio: Norman 32%; Manufacturer 68%.
  • Insurance premium on equipment while in transit $420
  • Insurance premium on equipment for first year $320
  • Installation of Equipment: $750
  • Testing of Equipment to make sure it was installed properly: $275
  • Sales Taxes $1842
Calculate the cost of the equipment on Norman’s books? Round your calculations to the nearest dollar. Norman Geological Surveys

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