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14 September, 11:25

Crane Company incurs these expenditures in purchasing a truck: cash price $23,030, accident insurance (during use) $1,690, sales taxes $1,380, motor vehicle license $670, and painting and lettering $2,140. What is the cost of the truck?

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  1. 14 September, 11:32
    0
    Cost of truck = 27,220

    Explanation:

    The Cost of the Truck is Calculated as Follows

    $

    Cost Price 23,030

    Accident Insurance (

    its a revenue expenditure

    as it will reoccur after 1 year) -

    Sales Tax

    (One time Cost Capital expenditure) 1,380

    Motor Vehicle License

    (One time Cost Capital Expenditure) 670

    Painting and Lettering

    (Capital Expenditure) 2,140

    Cost of truck 27,220
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