December 22
Traded the old company truck for a new truck issuing check number 30106 to complete the transaction. The old truck cost $3800 and on Sept. 30 ( the end of the quarter) had depreciated $2200. Straight line Depreciation on the old truck is $40 per month. The new truck listed for $19950 and Auburn auto sales allowed a $3000 trade in allowance on the purchase of the new vehicle. This trade has no commercial and no gain or loss will be recognized on this transaction. ???
Traded the old company truck for a new truck issuing check number 30106 to complete the transaction. The old truck cost $3800 and on Sept. 30 ( the end of the quarter) had depreciated $2200. Straight line Depreciation on the old truck is $40 per month. The new truck listed for $19950 and Auburn auto sales allowed a $3000 trade in allowance on the purchase of the new vehicle. This trade has no commercial and no gain or loss will be recognized on this transaction. ???