WebFeb 27, 2024 · The purchase of a motor vehicle is considered by many as acquiring an asset, but there is a school of thought that since a motor vehicle only depreciates in … WebPurchased delivery trucks for $60,000 cash. Received $16,000 from customers for services performed. Purchased supplies for $4,700 on account. Paid rent of $5,200 7. Performed services on account for $10,000. Paid salaries of $28,000 Paid a dividend of $11,000 to shareholders. 1. 2. 3. 4. 5. 6. 8. 9.
Solved choose the correct answer #1: - Purchased new
Web1. Separate the following list of assets into real assets and financial assets. What are the distinguishing characteristics of each type of asset? a. Delivery Truck b. Factory Building c. Corporate Bond d. Inventory e. Corporate Stock f. Land Note Receivable g. Computer 2. What is the primary factor that determines the price of securities? WebFeb 12, 2024 · For example, if you repair a truck engine at the end of the current year but plan to pay for the repair next year, you must record the expense in the current year. Recording a Journal Entry fsb42607z dishwashers built in
Freight Expense - Definition, Factors, How To Record
WebThe asset's cost less accumulated depreciation is called: Book value A delivery truck was purchased for $60,000 and is expected to be used for 5 years and 100,000 miles. The truck's residual value is $10,000. By the … WebThe delivery truck is an asset which is used for a longer period of time and can be physically seen or touched. Hence, the delivery truck is considered as the tangible fixed asset. … WebMay 26, 2024 · Delivery truck A. Assets B. Liability C. Owners equity D. Revenue E. Expense 10. Interest Income A. Assets B. Liability C. Owners equity D. Revenu E. Expense Advertisement Answer 6 people found it helpful rapalbea1roserapal Answer: 1.C 2.A 3.D 4.A 5.A 6.B 7.C 8.C 9.D 10.B Explanation: Sana makatulog Advertisement Still … fsb750tht