Massive Corporation Co. sells and delivers various goods to customers using self driving cars. (1)During the year
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Massive Corporation Co. sells and delivers various goods to customers using self driving cars. | |||||||||
(1)During the year a new windshield is installed for $425, new tires are put on for $1,600 and a custom made cargo sorting and cooling system is installed in one of the vehicles for $10,250. How should the three purchases be accounted for - are they an expense or capital? | |||||||||
Marks Available | 3 | ||||||||
(2) A different vehicle from the above is sold to a local business for $12,300 cash on November 6/21 The original cost on the vehicle was $78,500 and accumulated amortization as of the date of disposal was $69,300. Prepare the entry to record the disposal of the vehicle - description is not required. | |||||||||
Marks Available | 2 |
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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