Using the words qualified and not qualified, indicate whether each of the following events would qualify as

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Using the words qualified and not qualified, indicate whether each of the following events would qualify as a transaction and be recognized and recorded in the accounting system on the date indicated. Assume that the business is one of the Indianapolis Kroger grocery stores. 

a) On February 15, 19x2, Kroger placed an order for a new cash register with NCR, for which $700 would be paid after delivery. 

b) On February 17, 19x2, Kroger received a bill from Indianapolis Power and Light indicating that it had used electric power during January .19x2 at a cost of $120; the bill need not be paid until February 25, 19x2.

c) On February 20, 19x2, the Kroger store manager purchased a new passenger car
for $15,000 in cash. The car is entirely for peo use and was paid for from the
manager’s personal assets.
d) On February 21, 19x2, the cash register apiana on February 15, 19x2, was delivered. Payment was not due until March.
e) On February 23, 19x2, Kroger paid $120 to Indianapolis Power and Light.
f) On February 26, 19x2, Kroger signed a 2-year extension of the lease on the store
building occupied by the store. The new lease was effective on April 1, 19x2, and
required an increase in the monthly rental from $5,750 to $5,900.
g) On March 1, 19x2, Kroger paid $5,750 to its landlord for March rent on the store
building. 

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Financial Accounting

ISBN: 9780070213555

5th Edition

Authors: Robert K. Eskew, Daniel L. Jensen

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