Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 307 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 17 Aug 2017 My Price 5.00

Willis Bus Service

Willis Bus Service traded in a used bus for a new one. The original cost of the old bus was $52,000. Accumulated depreciation at the time of the trade-in amounted to $34,000. The new bus cost $67,000, but Mathews was given a trade-in allowance of $10,000.

a. What amount of cash did Mathews have to pay to acquire the new bus?
   

     

  

b.

Compute the gain or loss on the disposal for financial reporting purposes.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 08:08 PM My Price 5.00

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