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Fed Rex purchased a delivery truck for $150,000. There were the following necessary and ordinary charges to get the Ordinary installation charges of $3000 A
Fed Rex purchased a delivery truck for $150,000. There were the following necessary and ordinary charges to get the Ordinary installation charges of $3000 A permit for parking of $1000 A permit for a road guide of $2000 Calibration for the transmission in the truck of $100 During installation of the doors, the paint was scratched so badly, th resulted in a repair expense of $1000 in painting repairs. The salvage value is $50,000 It will be depreciated over 5 years using the straight line method. (a) Please prepare the journal entry for this transaction using th Use 12-31-17 as the date. (b) Please prepare the depreciation schedule using the form tha C JUL 28 tv A A @
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