Brian Inc. purchased a vehicle for $25,000 with a car loan. The company incurred $5,000 for shipping. When the car arrived, it required $500 to fix damages incurred during transport. Additionally, the company logo was placed on the car at $1,500. The car was insured for $4,000 and the DMV registration was paid for the year at $1,000. $31,500 $32,000 $35,500

Brian Inc. purchased a vehicle for $25,000 with a car loan. The company incurred $5,000 for shipping. When the car arrived, it required $500 to fix damages incurred during transport. Additionally, the company logo was placed on the car at $1,500. The car was insured for $4,000 and the DMV registration was paid for the year at $1,000. $31,500 $32,000 $35,500

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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