Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban. The cost of the Suburban is $8,400. The vehicle is purchased in later June and will be put into use onJuly 1, 2019. Annual insurance from GEICO runs $1,350 per year. The paid in starting to dafe, so they spend an extra $2,100 to repaint the vehicle, placing the Great Adventures logo on the from hood, back, and both sides. An additional $1,100 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. They expect to use the Suburban for five years and then sell the vehicle for $3,600. Required
a. Determine the amount that should be recorded for the new vehicle.
b. Prepare a depreciation schedule using the straight-line method.
c. Record the sale of the vehicle two years later on July 1, 2021, for $7,300.

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning

About time delivery co. incurred the following costs related to trucks and vans used in operating its delivery service: classify each of the costs as a capital expenditure or a revenue expenditure. 1. changed the oil and greased the joints of all the trucks and vans. 2. changed the radiator fluid on a truck that had been in service for the past four years. 3. installed a hydraulic lift to a van. 4. installed security systems on four of the newer trucks. 5. overhaul the engine on one of the trucks purchased three years ago. 6. rebuilt the transmission on one of the vans that had been driven 40,000 miles. the van was no longer under warranty. 7. removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication. 8. repaired a flat tire on one of the vans. 9. replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. tinted the back and side windows of one of the vans to discourage theft of contents.

In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?