A company incurred the following costs for a new delivery truck: Purchase price $130,000 Sales tax $7,300 Delivery charge from seller's location $1,500 Special racks for storage $3,000 Normal repairs to the truck before it was used for the first time $1,100 Signs painted on the truck $2,000 Insurance on the truck before it was used for the first time $3,000 What is the cost of the delivery truck? A. $143,800 B. $140,800 C. $138,800 D. $147,900

A company incurred the following costs for a new delivery truck: Purchase price $130,000 Sales tax $7,300 Delivery charge from seller's location $1,500 Special racks for storage $3,000 Normal repairs to the truck before it was used for the first time $1,100 Signs painted on the truck $2,000 Insurance on the truck before it was used for the first time $3,000 What is the cost of the delivery truck? A. $143,800 B. $140,800 C. $138,800 D. $147,900

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 5MC: Ngo Company purchased a truck for $54,000. Sales tax amounted to $5,400; shipping costs amounted to...

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