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Neporo4naja [7]
2 years ago
14

Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $37,500. In addition,

Jose incurred the following expenses before using the van: shipping costs of $850; paint to match the other fleet vehicles at a cost of $1,480; registration costs of $2,913, which included $2,700 of sales tax and a registration fee of $213; wash and detailing for $101; and an engine tune-up for $269.
What is Jose�s cost basis for the delivery van?
Business
1 answer:
Wittaler [7]2 years ago
3 0

Answer:

$42,530

Explanation:

The computation of cost basis for the delivery van is shown below:-

Cost basis for the delivery van = Purchase price + Shipping cost + Paint + Sales tax

= $37,500 + $850 + $1,480 + $2,700

= $42,530

Here the shipping cost, paint, sales tax is business preparation cost. So, for computing the cost basis of delivery van we simply added the purchase price, shipping cost, paint and sales tax.

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Answer:

Transaction

Explanation:

Marketing exchange process refers to a process wherein two or more individuals buy or sell a good. Exchange refers to the consideration which is paid in return for the product i.e money.

For any exchange to take place it is essential that the good is transacted.

Customer would be the one who requires the product or the ones who create a want.

A Provider is the one who satisfies a want or say the one who makes the product available.

Product is the bundle of utilities or attributes which satisfies a want.

Transaction is effected when the buyer gets the product and the seller gets paid for the product.

7 0
3 years ago
The Van Horns deposit funds with ABC Escrow as a requirement for the purchase of their new home. Who is the grantee and the thir
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Answer:

This is an escrow transaction. An escrow is an arrangement where a third party (ABC Escrow) holds funds for a given transaction between other two parties.

The Van Horns are the grantees in this transaction.  

The escrow is responsible for the safe keeping of the funds, in order to avoid any type of loss or fraud.

5 0
3 years ago
A politician says, "We could help low-wage workers by offering them tax credits like the earned income tax credit, but it would
Tpy6a [65]

Answer:

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Explanation:

8 0
2 years ago
Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a(n) __________ process
marysya [2.9K]

Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) <u>accounting process</u>.

The accounting process is the set of steps that allows the economic operations of an entity or company to be expressed through financial statements.

This process is essential for any company since they will be able to see their expenses and income, and thus make projections and help it to minimize entry errors of the company.

  • During the accounting process, the economic operations of the company are compiled (purchases of materials, sales of products), together with the documents that guarantee each operation.

  • Finally, before the accounting process is closed, adjustments or modifications can be made that allow a reliable balance.

Therefore, we can conclude that Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) accounting process.  

Learn more here: brainly.com/question/20871705

5 0
2 years ago
In his job, Damon often identifies causes of problems with telecommunication equipment. Which is most likely his employer? a gov
Flura [38]

Answer:

B. A local cable company.

Explanation:

Since, Damon often identifies causes of problems with telecommunication equipment. The company that is most likely to be his employer is a local cable company.

7 0
3 years ago
Read 2 more answers
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