FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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3 Hummer Company purchased a delivery truck. The total cash payment was $30,000, including the following items. Explain how each of these costs would be accounted for.
|
Negotiated purchase price |
$24,000 |
|
Installation of special shelving |
1,200 |
|
Painting and lettering |
1,000 |
|
Motor vehicle license |
180 |
|
Annual insurance policy |
2,400 |
|
Sales 7-2atax |
1,400 |
|
Total paid |
$30,180 |
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