What is the net book value of the asset at the moment

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Reference no: EM133433471

Case: Logan Logistics Ltd. has a fleet of delivery vehicles that are traded in when they reach 200,000 km. Truck #3846 is traded in for a new identical model #9929. The accounting records show the following data for this transaction:

#3346 cost = $80,000
#3346 accumulated depreciation = $67,680
Cash paid by Logan to "seal the deal" = $62,090
Sticker price (Manufacturers Suggested Retail Price) for # 9929 = $92,000

Required 1: What amount should #9929 be capitalized at? $

Required 2: What is the net book value of the asset at the moment of the disposition? If negative use the minus sign "-" $

Required 3: What gain (loss) will Condor show in accounting for the disposal of the asset? If negative use the minus sign "-" $

Reference no: EM133433471

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