Use the information for Spencer Ltd. from BE10.12. The same used truck is being traded, but Spencer
Question:
Use the information for Spencer Ltd. from BE10.12. The same used truck is being traded, but Spencer does not know the fair value of the new truck. Spencer did look up the value of its used truck and determined its fair value at the date of the trade is $2,000. The list price of the new truck is $36,000 and the trade-in allowance given on the trade was $5,000. If Spencer paid $31,000, what should be the amount used as the cost of the new truck? Prepare Spencer’s entry to record the exchange.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The tradein allowance is not representative of the fair value of the used vehicle given u...View the full answer
Answered By
Anette Tikkop
Hello, I’m Anette! I am in a STEM related major of civil engineering at The City College of NY, seeking my bachelors degree. Being a student myself, I know what it is like to feel lost and unsure of where to start in certain academic subjects. Knowing I have the chance to tutor kids, I know that I am able to help them and this creates a great learning experience. I am very passionate, patient, and love getting the chance to meet others and share my personality. The ability to see kids strive for excellence is one that has many rewards in my achievements. I have the capabilities to teach students the most effective ways to learn these subjects and approach uncertainties in complex STEM subjects.
Currently: I work as a tutor for chemistry 1&2 college students at City college, having experience in this field for 2+ years. Additionally, I have tutored kids of all ages in math related subjects (from elementary algebra to algebra 2/trig). When students struggle in particular studies, I sit down and come up with a strategy/plan that will best work for them. I try to take real life examples and make math enjoyable, helping to enhance learning and make sure everyone understands the tasks at hand! I motivate my students to work hard, as academic excellence at an early age is stressed upon. I look to create ways to better student habits, while teaching great tips for studying and lessening procrastination. At the end of sessions: student will have clear knowledge and develop academic skills to succeed.
Are you willing to learn? Help build these study skills and find solutions to academic struggles? Work with me for guaranteed study tips and overall academic excellence in all several fields of study! Maximize your learning and find efficient skills with me. In doing this, I hope to: create motivation to succeed, build confidence in academic paths, and provide individualized support and help organizational skills. Availability is very flexible, do not hesitate! Look forward to tutoring and growing together!
0 Reviews
10+ Question Solved
Related Book For 
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
Question Posted:
