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John purchases a truck for his hardware business in Utah. The price of the truck $18,000. The truck is located in Alabama so John must
John purchases a truck for his hardware business in Utah. The price of the truck $18,000. The truck is located in Alabama so John must pay $1,000 to ship the truck up to Utah. When John registered the car for the first time, he paid $1,150 of tax for the purchase of the truck and his annual registration fees of $100. John also took the truck to an auto paint shop where he paid $500 to get his company logo painted on the side.
What is value that the truck is recorded on John's books?
Question 1 options:
18,000 | |
19,000 | |
20,050 | |
20,650 | |
20,750 |
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