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Q-3: Haddad Corporation operates a retail computer store. To improve delivery services to customers, the company purchase a new truck on April 1. 2019. The
Q-3: Haddad Corporation operates a retail computer store. To improve delivery services to customers, the company purchase a new truck on April 1. 2019. The term of acquisition for the truck is described below a) Truck has a list price of $16,000. It is acquired in exchange for a computer system that Haddad carries in inventory. The computer system cost $13,000 and is normally sold by Haddad for $15,000. Haddad uses a perpetual inventory system. b) Delivery Van #3 has a list price of $15.500. It is acquired in exchange for 2,000 ordinary shares in Jamila Company. The shares have a par value per share of $6 and a market price of $7.75 per share
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