Business, 05.05.2021 01:00 akornegay2

Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2022, for $12,600. They expect to use the Suburban for five years and then sell the vehicle for $4,800. The following expenditures related to the vehicle were also made on July 1, 2022: 1. The company pays $1,950 to GEICO for a one-year insurance policy.
2. The company spends an extra $3,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides.
3. An additional $2,150 is spent on a deluxe roof rack and a trailer hitch.

The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2022, the company pays $700 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter.

Required:
Record the expenditures related to the vehicle on July 1, 2022.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 13:00

Explain the relationship between consumers and producers in economic growth and activity

Answers: 1

Answer

Business, 23.06.2019 00:00

How do the percentages of the 65 customer satisfaction ratings in that actually fall into the intervals [formula62.mml ± s], [formula62.mml ± 2s], and [formula62.mml ± 3s] compare to those given by the empirical rule? do these comparisons indicate that the statistical inferences you made in parts b and c are reasonably valid? (round your answers to the nearest whole number. omit the "%" sign in your

Answers: 2

Answer

Business, 23.06.2019 02:20

Suppose rebecca needs a dog sitter so that she can travel to her sister’s wedding. rebecca values dog sitting for the weekend at $200. susan is willing to dog sit for rebecca so long as she receives at least $175. rebecca and susan agree on a price of $185. suppose the government imposes a tax of $30 on dog sitting. the tax has made rebecca and susan worse off by a total of

Answers: 3

Answer

Business, 23.06.2019 16:30

Circuittown commenced a gift card program in january 2018 and sold $12,150 of gift cards in january, $19,150 in february, and $18,100 in march of 2018 before discontinuing further gift card sales. during 2018, gift card redemptions were $7,850 for the january gift cards sold, $4,350 for the february cards, and $4,250 for the march cards. circuittown considers gift cards to be â€śbrokenâ€ť (not redeemable) 10 months after sale. required: 1. how much revenue will circuittown recognize with respect to january gift card sales during 2018? 2. prepare journal entries to record the sale of january gift cards, redemption of gift cards (ignore sales tax), and breakage (expiration) of gift cards. 3. how much revenue will circuittown recognize with respect to march gift card sales during 2018? 4. what liability for deferred revenue associated with gift card sales would circuittown show as of december 31, 2018?

Answers: 2

Answer

You know the right answer?

Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies....

Questions