What is joses cost basis for the delivery van

Assignment Help Accounting Basics
Reference no: EM13514911

Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $24,500. In addition, Jose incurred the following expenses before using the van: shipping costs of $650; paint to match the other fleet vehicles at a cost of $1,000; registration costs of $3,200 which included $3,000 of sales tax and a registration fee of $200; wash and detailing for $50; and an engine tune-up for $250. What is Jose's cost basis for the delivery van?

Reference no: EM13514911

Questions Cloud

Define the balanced net ionic equation for precipitation : What is the balanced net ionic equation for precipitation of CaCO3 when aqueous solutions of Na2CO3 and CaCl2 are mixed
Doctor bones prescribed physical therapy in a pool : Determine if a capital expenditure such as the cost of a swimming pool qualifies for the medical expense deduction.
Determine the moment of inertia of the earth : The Earth can be approximated as a sphere of uniform density, rotating on its axis once a day. What is the moment of inertia of the Earth
Determine the speed of the roller coaster : The track near the top of your favorite roller coaster has a circular shape with a diameter of 29 m. What is the speed of the roller coaster
What is joses cost basis for the delivery van : What is Jose's cost basis for the delivery van - Jose purchased a delivery van for his business through an online auction. His winning bid for the van was $24,500.
How to compute the ph of a solution prepared by mixing : Calculate the pH of a solution prepared by mixing 20.5mL of a 0.500M sodium fluoride solution with 32.5mL of a 0.750M hydrofluoric acid solution.
Compute the frequency of the fundamental on this string : A string 1.3 m long with a mass of 3.9 g is stretched between two fixed points with a tension of 93 N. Find the frequency of the fundamental on this string
Is terry subject to self employment taxes on income : Terry plans to include the payment in his gross income but because he spends most of his time playing golf and absolutely no time working on legal matters, he does not intend to pay self-employment taxes on the income. Is Terry subject to self emp..
Compute the value for r the radius of a nickel atom : In solid nickel the atoms are so tightly packed they touch each other. Using geometry and the equation 4r = a(2)1/2 and a = 3.524 calculate the value for r, the radius of a nickel atom. a. 2.27 b. 1.24 c. 3.9 d. 0.92 e. 4.7

Reviews

Write a Review

Accounting Basics Questions & Answers

  1 provide some synonymous terms for traceable and

1. give some synonymous terms for traceable and non-traceable costs.2. is the focus on variable or fixed costs in this

  Prepare a schedule of cost of contract

Prepare a schedule of cost of contract services provided (similar to a cost of goods manufactured schedule) for the month. (List amounts from largest to smallest eg 10, 5, 3, 2.)

  Determine the book value of the goodwill

Determine the book value of the goodwill on December 31, 2008, prior to making the impairment adjustment. Illustrate the effects on the accounts and financial statements of the December 31, 2008, adjustment for the goodwill impairment.

  Total dividends paid to shareholders

In its most recent financial statements, Newhouse Inc. reported $50 million of net income and $810 million of retained earnings. The previous year, its balance sheet showed $780 million of retained earnings. What were the total dividends paid to s..

  Incremental cost associated with producing

What is the incremental cost associated with producing an extra 50,000 jars of salsa. What is the incremental cost associated with the price reduction of $0.30 per jar?

  Why are the prices different in a and b what are the

a 1000 bond has a coupon of 6 percent and matures after 10 years.a. what would be the bonds price if comparable debt

  Back mountain industries bmi has two divisions east and

back mountain industries bmi has two divisions east and west. bmi has a cost-of-capital of 16.1. selected financial

  Compute the break-even point in dollars under each of the

fredonia inc. had a bad year in 2013. for the first time in its history it operated at a loss. the companys income

  Freds fasteners is a manufacturing company that has decided

freds fasteners is a manufacturing company that has decided they are large enough to choose to be self-insuring for

  Account work the anz bank share code anzax expects to pay a

the anz bank share code anz.ax expects to pay a dividend of 0.91 ltbrgttoday and dividends are expected to grow at 6

  The concept of depreciation is to allow a current deduction

the concept of depreciation is to allow a current deduction for the reduced value of the thing being used. since using

  Purchase price pod company paid for investment

The ending balance in the Investment in Pod Company account at December 31, 2010 was $320,000 after applying the equity method during 2010. What was the purchase price Pod Company paid for its investment in Jobs, Inc?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd