On January 2, 2020, Neeson Delivery Company Traded in an Old

question 24

Multiple Choice

On January 2, 2020, Neeson Delivery Company traded in an old delivery truck for a newer model. Data relative to the old and new trucks follow: Old Truck
Original cost.....................................................................$9,000
Accumulated depreciation at January 2,2020...................6,000
Fairvalue ...........................................................................3,000
New Truck
List price.......................................................... $\$ 15,000$
Cash price without trade-in..............................14,000
Cash paid with trade-in.....................................11,000 The cost of the new truck for financial accounting purposes is

• A) $ 9,000.
• B) $ 11,000.
• C) $ 14,000.
• D) $ 15,000.

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Definitions:

Biceps Femoris

A muscle of the posterior thigh involved in knee flexion and hip extension, part of the hamstrings group.

Extensor Digitorum Longus

The extensor digitorum longus is a muscle in the lower leg that helps extend the toes and dorsiflex the foot, facilitating walking and running.

Sartorius

The longest muscle in the human body, extending from the hip to the knee, involved in flexing, abducting, and rotating the thigh.

Semimembranosus

One of the three hamstring muscles located at the back of the thigh, involved in knee flexion and hip extension.