Trading the old company equipment

Reference no: EM13140122

Traded the old company equipment for a new truck issuing a check to complete the transaction. The old used truck cost $3,800 and on September 30, the end of the quarter, had depreciated $2,200. Straight-line depreciation on the old truck is $40 per month. The new truck listed for $19,950 with an allowed $3,000 trade-in allowance on the purchase of the new vehicle. This trade has no commercial and no gain or loss will be recognized on this transaction.

Reference no: EM13140122

Questions Cloud

What tax issues regarding exchanges should mary and peter : At the same time, Peter contributes $15,000 in cash for 15 newly issued Trenton shares. What tax issues regarding the exchanges should Mary and Peter consider?

Similarities of islam-judaism and christianity : What are the similarities of Islam, Judaism and Christianity? What are the differences?

Can tom be considered a hero in the play"the glass menagerie : Can Tom be comsidered a hero in the play "The Glass Menagerie"?

What is meant by spatial regulation of genes in eukayotes : what is meant by spatial regulation of genes in eukayotes and what is meant by temporal regulation? possibly attach an example of each.

Trading the old company equipment : Traded the old company equipment for a new truck issuing a check to complete the transaction. The old used truck cost $3,800 and on September 30, the end of the quarter, had depreciated $2,200.

Challenges in practicing hinduism : What are challenges in practicing Hinduism? What are the traditions? What are important Holidays?

Determine cost assigned to ending inventory : Determine cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d ) LIFO.

Probability-selected time interval between eruptions is high : If the interval of tiem between eruptions is normally distributed with standard deviation 21.25, then what is the probability that a randomly selected time interval between eruptions is longer than 95 minuntes.

Write the expression for the current : Write the expression for the current through the capacitor after the switch is closed. The circuit is a 60 Volt circuit

User Account

All Pages