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padiva82
Apr 26, 2008, 09:52 AM
:confused: If the list price of delivery equipment is $55,000, and the trade in allowance is $20,000 the cost of the new truck would be recorded as???

I thought the answer would be $35,000 (cash paid) but that doesn't seem to be right.
Please Help!!!!
progunr
Apr 26, 2008, 10:19 AM
Unless you have to compute taxes or other fees, how could that answer be wrong?
Capularis
Apr 30, 2008, 11:45 AM
:confused: If the list price of delivery equipment is $55,000, and the trade in allowance is $20,000 the cost of the new truck would be recorded as???

I thought the answer would be $35,000 (cash paid) but that doesn't seem to be right.
Please Help!!!!
is there any amortization on the trade-in equipment?