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Anderson Company purchases a new delivery truck for $50,000. The sales taxes are $3,000. The logo of the company is painted on the side of
Anderson Company purchases a new delivery truck for $50,000. The sales taxes are $3,000. The logo of the company is painted on the side of the truck for $1,800. The truck's annual license is $140 and annual insurance is $600. The truck undergoes a one-time initial safety testing before use for $270. What does Anderson record as the cost of the new truck? 2)The following equipment was puritaso July 1, 2019 Initial Cost $700.000 Expected Useful Life 5 years Explod Swap Ve $70,000 Record deprechance expense for 2019 using the straight-line method. Assets Liabilities Stockholders' Equity What is the look aloe of the equipment at December 31, 2019 after depreciation has been recorded! Record depreciation expense for 2020 using the straight-line method. Assets Llobulites Stockholders' Equity + What is the bank malas of the equipment at December 31, 2021) after depreciation has been recorded The equipment sold for $4/11/10 July 1, 2021. What is the book value of the equipment on the date of sale? (Hint: you need to record depreciation expere from the last adjustment for 22 to the date of sale: "catch-up citry") What is the gain or low on sale! What is the transaction to record the sale! Assets Llobulikes Stnckholders' Equity 3. Identify which financial statement you would find the following accounts: Land Equipment Copyright Gain on Disposal Loss on Retirement Depreciation Expense Accumulated Depreciation 4. On May 1, 2020, Jefferson, Inc. purchased a copyright for $135,000. If the copyright has a useful life of 5 years, what is the amount of amortization expense Jefferson will record for the copyright as of December 31, 2020
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