1 Ross Company incurs these expenditures in purchasing a truck: cash price $25,000, accident insurance (during use) $2,000, sales taxes $1,080, motor vehicle license $400, and painting and lettering $2,800. What is the cost of the truck?

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Question 2. Using terms of 2/10 and n/30, Granite Company spent $133,000 on a machine. The equipment was delivered FOB the shipment location, and the freight charged $3,300. Special installation and electrical connections for the machine are necessary and will cost $11,300. Damages of $2,800 were incurred during equipment installation. Assuming Granite paid during the discount period, calculate the cost reported for this machine. A. $163,000. B. $154,140. C. $150,340. D. $154,440. E. $144,940.

The following costs pertain to a new delivery truck that was purchased on March 31, 2020.  All costs were paid in cash.   Calculate how much the truck will be capitalized as an asset for the truck.  How much will be expensed?   You are not required to prepare a journal entry.    Cost of Truck                                                            $30,000 Delivery charges                                                         $1,300 Ongoing gasoline purchases each week                  $    200 Sales Tax                                                                       $2,100

2. A vehicle is purchased by ABC Co. The vehicle cost $35,000 and has a useful life of 5 years or 100,000 miles with a salvage value of $3,000 at the end of its useful life. There is a 6 percent sales tax due on the vehicle upon registration with the Registry of Motor Vehicles, and the registration fee is $120 in order to get new plates. Every year a $75 dollar license renewal fee is charged by the Registry. After six months, the vehicle is brought to the dealer for a $75.00 oil and filter change. In its six months of operation, it has a flat tire that cost $35 to repair. Two years down the road, the engine of the truck seizes and an engine replacement is performed, which cost $3,000.   With regard to the above example, which of these expenditures are capitalized, and which are expensed? The cost of the vehicle The sales tax The plate and registration fee Annual registration fee The oil and filter change The flat tire repair The engine replacement

Required information [The following information applies to the questions displayed below.] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2022, for $13,400. They expect to use the Suburban for five years and then sell the vehicle for $5,200. The following expenditures related to the vehicle were also made on July 1, 2022: The company pays $2,150 to GEICO for a one-year insurance policy. The company spends an extra $4,400 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. • An additional $2,350 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2022, the company pays $1,100 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and…

Please help me solve both questions

Problem 4 The Bay View Restaurant has purchased a new dishwasher for its own use. Required: Using the following information, determine the proper amount to be capitalized in the asset account Equipment. $8,000 Invoice price of equipment Cash discount allowed: 2% of invoice ol 160 300 Freight-in paid Speeding ticket given to our truck driver while the driver was delivering equipment 25 Installation costs 150 308 Sales tax on purchase Repair of damages due to equipment being dropped off truck 200o

A company sells an office desk. You are provided with the following information: The original cost of the desk was $3,000. The desk is sold for $1,000. . . The value of the desk is $1,500. The opening UCC balance in Class 8 is $18,000 A new desk is purchased for $2,000. What amount is recorded as a disposition in Class 8? • O O a. $3,000 O b. $1,000 O c. $1,500 O d. d. $18,000 $2,000