No. | Account Titles and Explanation | Debit | Credit |
1 | Trucks | 25715 | |
Cash | 25715 | ||
2 | Trucks* | 27461 | |
Discount on notes payable | 2139 | ||
Cash | 3700 | ||
Notes payable | 25900 | ||
3 | Trucks | 28120 | |
Cost of goods sold | 22200 | ||
Inventory | 22200 | ||
Sales revenue | 28120 | ||
4 | Trucks (1060 x $13) | 13780 | |
Common stock (1060 x $10) | 10600 | ||
Paid-in capital in excess of par-common stock | 3180 |
*PV = $25900 x 0.91743 = $23761.44
Cost of truck = $3700 + $23761.44 = $27461.44 = $27461
Swifty Corporation operates a retail computer store. To improve delivery services to customers, the company purchases...
Sarasota Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are described below. 1. Truck #1 has a list price of $22,350 and is acquired for a cash payment of $20,711. 2. Truck #2 has a list price of $23,840 and is acquired for a down payment of $2,980 cash and a zero-interest-bearing note with a face amount of $20,860....
Novak Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are described below. 1. Truck #1 has a list price of $42,150 and is acquired for a cash payment of $39,059. 2. Truck #2 has a list price of $44,960 and is acquired for a down payment of $5,620 cash and a zero-interest-bearing note with a face amount of $39,340.The...
Shamrock Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are described below. 1. Truck #1 has a list price of $29,550 and is acquired for a cash payment of $27,383. 2. Truck #2 has a list price of $31,520 and is acquired for a down payment of $3,940 cash and a zero-interest-bearing note with a face amount of $27,580....
Oriole Corporation operates a retail computer store. To improve
delivery services to customers, the company purchases four new
trucks on April 1, 2017. The terms of acquisition for each truck
are described below.
1.
Truck #1 has a list price of $52,950 and is acquired for a cash
payment of $49,067.
2.
Truck #2 has a list price of $56,480 and is acquired for a down
payment of $7,060 cash and a zero-interest-bearing note with a face
amount of $49,420....
Sheridan Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2017. The terms of acquisition for each truck are described belaw 1, Truck #1 has a list price of $40,350 and is acquired for a cash payment of $37,391 2. Truck #2 has a list price of $43,040 and is acquired for a down payment of $5,380 cash and a zero interest-bearing note with a face a ount...
Martinez Corporation operates aretail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1. 2020. The terms of acquisition for each truck are described below. 1. 2 3 Truck #1 has a list price of $43,950 and is acquired for a cash payment of $40.727. Truck #2 has a list price of $46,880 and is acquired for a down payment of $5,860 cash and a zero-interest-bearing note with a face amount of $41,020....
Kelly Clarkson Corporation operates a retail computer store. To
improve delivery services to customers, the company purchases four
new trucks on April 1, 2014. The terms of acquisition for each
truck are described below.
1.
Truck #1 has a list price of $32,850 and is acquired for a cash
payment of $30,441.
2.
Truck #2 has a list price of $35,040 and is acquired for a down
payment of $4,380 cash and a zero-interest-bearing note with a face
amount of...
Exercise 10-3 Pharoah Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2017. The terms of acquisition for each truck are described below. 1. Truck #1 has a list price of $38,550 and is acquired for a cash payment of $35,723. 2. Truck #2 has a list price of $41,120 and is acquired for a down payment of $5,140 cash and a zero-interest-bearing note with a face amount...
Monty Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1,2017. The terms of acquisition for each truck are described below. 1. 2. Truck #1 has a list price of $ 18,750 and is acquired for a cash payment of $ 17,375. Truck #2 has a list price of $ 20,000 and is acquired for a down payment of $ 2,500 cash and a zero-interest-bearing note with a face...
Exercise 10-03
Metlock Corporation operates a retail computer store. To improve
delivery services to customers, the company purchases four new
trucks on April 1, 2020. The terms of acquisition for each truck
are described below.
1.
Truck #1 has a list price of $38,550 and is acquired for a cash
payment of $35,723.
2.
Truck #2 has a list price of $41,120 and is acquired for a down
payment of $5,140 cash and a zero-interest-bearing note with a face
amount...