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26 September, 05:12

Pharoah Company purchased a delivery truck. The total cash payment was $36,086, including the following items. Negotiated purchase price $27,600 Installation of special shelving 2,650 Painting and lettering 690 Motor vehicle license 440 Annual insurance policy 3,050 Sales tax 1,656 Total paid $36,086 Calculate the cost of the delivery truck.

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  1. 26 September, 08:46
    0
    Total cost of the delivery truck = $32596

    Explanation:

    given data

    total cash payment = $36086

    Negotiated purchase price = $27600

    Installation of special shelving = 2650

    Painting and lettering = 690

    Motor vehicle license = 440

    Annual insurance policy = 3050

    Sales tax = 1,656

    Total paid = $36,086

    to find out

    cost of the delivery truck

    solution

    we know that Motor vehicle license and Annual insurance policy are expended off to some appropriate expense account

    Total cost of the delivery truck = Negotiated purchase price + Installation of special shelving + Painting and lettering + Sales tax

    put here value

    Total cost of the delivery truck = $27600 + $2650 + $690 + $1,656

    Total cost of the delivery truck = $32596
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