A new vehicle was purchased on 1 September 2023. The details of amounts paid include: Purchase...
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A new vehicle was purchased on 1 September 2023. The details of amounts paid include: Purchase price $44,000, including GST Registration $700 plus GST $70 Insurance $1,500, plus $150 GST Delivery costs $1,200, plus $120 GST The vehicle was expected to have a life of 4 years in the business after which time it was expected it could be sold for $5,000 For accounting purposes how much would be recorded as the cost for the purchase of this vehicle? → A new vehicle was purchased on 1 September 2023. The details of amounts paid include: Purchase price $44,000, including GST Registration $700 plus GST $70 Insurance $1,500, plus $150 GST Delivery costs $1,200, plus $120 GST The vehicle was expected to have a life of 4 years in the business after which time it was expected it could be sold for $5,000 For accounting purposes how much would be recorded as the cost for the purchase of this vehicle? →
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Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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