Triton Limited purchases a new delivery truck for $80,000. The insurance cost during transit from the motor vehicle dealer to Triton is $3,000. The logo of the company is painted on the side of the truck for $500. The recurring annual truck registration is $700 and a 12 month accident insurance policy is $1,100. The truck undergoes the initial safety testing to make sure it is road worthy for the first time is $330. What does Triton Limited record as the cost of the new truck?
Triton Limited purchases a new delivery truck for $80,000. The insurance cost during transit from the motor vehicle dealer to Triton is $3,000. The logo of the company is painted on the side of the truck for $500. The recurring annual truck registration is $700 and a 12 month accident insurance policy is $1,100. The truck undergoes the initial safety testing to make sure it is road worthy for the first time is $330. What does Triton Limited record as the cost of the new truck?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Triton Limited purchases a new delivery truck for $80,000. The insurance cost during transit from the motor
vehicle dealer to Triton is $3,000. The logo of the company is painted on the side of the truck for $500. The
recurring annual truck registration is $700 and a 12 month accident insurance policy is $1,100. The truck
undergoes the initial safety testing to make sure it is road worthy for the first time is $330.
What does Triton Limited record as the cost of the new truck?
Select the one correct answer:
O $85,630.
O $80,000.
O $83,830.
O $83,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32d90abb-17ba-4e86-8b99-dcc6b8e59f65%2F48dbb4ce-0062-44c0-be32-bd8f3926c9fc%2Fxrpmxla_processed.png&w=3840&q=75)
Transcribed Image Text:Triton Limited purchases a new delivery truck for $80,000. The insurance cost during transit from the motor
vehicle dealer to Triton is $3,000. The logo of the company is painted on the side of the truck for $500. The
recurring annual truck registration is $700 and a 12 month accident insurance policy is $1,100. The truck
undergoes the initial safety testing to make sure it is road worthy for the first time is $330.
What does Triton Limited record as the cost of the new truck?
Select the one correct answer:
O $85,630.
O $80,000.
O $83,830.
O $83,000.
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