1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
DENIUS [597]
2 years ago
12

Salvia Company recently purchased a truck. The price negotiated with the dealer was $42,500. Salvia also paid sales tax of $2,50

0 on the purchase, shipping and preparation costs of $3,500, and insurance for the first year of operation of $4,500. At what amount should the truck be recorded on the balance sheet prior to recording depreciation expense
Business
2 answers:
LenaWriter [7]2 years ago
8 0

Answer:

$48,500

Explanation:

Price $42,500

Sales tax on the purchase $2,500

shipping and preparation costs $3,500

$42,500+$2,500+$3,500=$ 48,500

Therefore the truck should be recorded on the balance sheet prior to recording depreciation expense with $48,500

lidiya [134]2 years ago
6 0

Answer: The amount to be recorded prior to deprecation is $48,500

Explanation:

To record the cost of the Truck on a balance sheet, prior to deprecation expenses. We need to add up all the cash spent in purchasing the truck. This are, how much task to be levied on the truck, how much the truck will cost and also how much it cost in shipping and preparation. This are the cash spent in acquiring the truck.

Therefore;

$42,500 + $2,500 + $3,500 = $48,500

Insurance premium cost will not be added, because it is not among the amount spent to acquire the truck.

You might be interested in
Refer to lynn bernerd, inc. initially, the managers believed that ____ would be the best option for entering the foreign market.
mojhsa [17]
<span>They originally felt that licensing would be the best first step. By letting other companies use their product in exchange for paying royalty fees, Bernerd was licensing its product out for those companies to take advantage of the company's name.</span>
7 0
3 years ago
What job should i choose to be so rich
Tatiana [17]

Answer:

The top career choices for making the most money are being an investment banker or physician. Engineer and pharmacist are good options as well.

3 0
3 years ago
Read 2 more answers
Detailed information about the financial statement elements is maintained in records commonly called?
sergij07 [2.7K]

Detailed information about the financial statement elements is maintained in records commonly called "Accounts'

An account in accounting is a general ledger entry that is used to categorize and record transactions. For example, businesses will have a Cash account where they may record each transaction that raises or reduces the amount of cash they have on hand.

Three different accounts exist.

  1. Real account: It links assets and obligations; it excludes accounts for specific individuals. They continue every year.
  2. Personal accounts link the accounts of people,
  3. Businesses, and organizations. All accounts for income, spending, losses and profits are related by a nominal account.

To learn more about financial statements

brainly.com/question/26243955

#SPJ4

4 0
2 years ago
If the interest rate rises in the United States relative to other​ nations, then in the foreign exchange market the demand for d
34kurt

Answer:

B. ​increases; decreases

Explanation:

Foreign exchange market can be defined as type of market in which the currency of one country is converted into that of another country.

For example, the conversion of dollars of the United States of America can be converted into naira (Nigeria) at the foreign exchange market.

Efficient market school is the market school which argues that forward exchange rates do the best possible job for forecasting future spot exchange rates, so investing in exchange rate forecasting services would be a waste of time because it is impossible to have a consistent alpha generation on a risk adjusted excess returns basis as market prices are only affected by new informations.

The efficient market school also known as the efficient market hypothesis (EMH) is a hypothesis that states that asset (share) prices reflect all information and it is very much impossible to consistently beat the market.

Also, forward exchange rates are exchange rates controlling foreign exchange transactions at a specific future date or time.

An interest rate can be defined as an amount of money that is charged as a percentage of the total amount borrowed from an individual or a financial institution.

Generally, if the interest rate rises in the United States relative to other​ nations, then in the foreign exchange market the demand for dollars​ increases and the supply of dollars​ decreases because of the high value of the dollar compared to the other currency.

4 0
2 years ago
Read 2 more answers
Name four commercial services which are useful to a manufacturer​
faltersainse [42]
I don’t know but you will get it
5 0
2 years ago
Other questions:
  • Minden company introduced a new product last year for which it is trying to find an optimal selling price. marketing studies sug
    14·1 answer
  • At the present time, Perpetualcold Refrigeration Company (PRC) has 10-year noncallable bonds with a face value of $1,000 that ar
    5·1 answer
  • Best birdies produces ornate birdcages. the company's average cost per unit is $18.00 when it produces 2,200 birdcages. if $5,50
    6·1 answer
  • The Modigliani and Miller hypothesis suggests that capital structure doesn't matter. All of the following conditions need to be
    8·1 answer
  • Why do you think government services are necessary ?
    11·1 answer
  • Quantitative Problem 1: Hubbard Industries just paid a common dividend, D0, of $1.50. It expects to grow at a constant rate of 2
    8·1 answer
  • Whose responsibility is it to develop a policy for anaphylaxis management in a specific school?
    13·1 answer
  • You are considering purchasing stock S. This stock has an expected return of 12 percent if the economy booms, 8 percent if the e
    5·1 answer
  • Despite its high reach, ______ typically provides the least depth of news coverage.
    11·1 answer
  • The balance in Discount on Bonds PayableGroup of answer choicesshould be reported on the balance sheet as an asset because it ha
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!