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-   -   Equipment Purchase on Profit & Loss (https://www.askmehelpdesk.com/showthread.php?t=821073)

  • Jan 28, 2016, 07:33 PM
    jaw1410
    Equipment Purchase on Profit & Loss
    We own a small charter bus company. Last year we purchased a used bus for $30,000. We paid $15,000 down and 10 monthly payments of $1,500.

    Do these payments, both the down payment and monthly payments go on the Profit and Loss Statement.

    Thanks
  • Jan 29, 2016, 07:49 AM
    ebaines
    This looks like a homework question. Do you understand the concept of depreciation of capital assets over time?

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