Chapter 10 - lettering $400 What is the cost of the truck $...

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BE10-1
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Correct. The following expenditures were incurred by Obermeyer Company in purchasing land: cash price $70,000, accrued taxes $3,000, attorneys’ fees $2,500, real estate broker’s commission $2,000, and clearing and grading $3,500. What is the cost of the land? $ 81000 BE10-2 Correct. Neeley Company incurs the following expenditures in purchasing a truck: cash price $30,000, accident insurance $2,000, sales taxes $1,500, motor vehicle license $100, and painting and
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Unformatted text preview: lettering $400. What is the cost of the truck? $ 31900 BE10-3 Correct. Conlin Company acquires a delivery truck at a cost of $42,000.The truck is expected to have a salvage value of $6,000 at the end of its 4-year useful life. Compute annual depreciation for the first and second years using the straight-line method. Year 1 $ 9000 Year 2 $ 9000...
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This note was uploaded on 11/15/2010 for the course ACCT acct105 taught by Professor Kruc during the Fall '10 term at Bucks Community College.

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Chapter 10 - lettering $400 What is the cost of the truck $...

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