Acct 311 Chapter 10 - Lab of 10 File: Acer 311 -Lab 9 of 10 - Chapter 10-Spring 2020 1. Acquisition of equipment (truck) Acquisition costsoituds Company operate sa re tal computer store. To improve delivery services to custo mers, the company purchase sfour new truck on Apri i 2020 The te msof each of the four trucks are described as follows Truck # 1 has a list price of $ 15,000 and is acquied with a cash payment of $ 13.900 Debit Credit Truck : 2 has a list price of $ 15,000 and is acquired fora down payment of $ 2.000 and azero-interest bearing note with a face amount of $ 14000 The note is due April 1 2021 10% for such a borrowing The company nomaly has to pay an interest rate of and the dealership has an incremental borrowing rate of Debit Credit Truck 3 has a listprice of $ 15000 and is acquired in exchange fora computer system that the company cmesin inventory. The computer system cos's $ 12.000 and is normally sold bythe ampanyfor $ 15200 The company uses a perpetual inventorysystem Debit Credit Truck 4 has alistprice of $ 14000 and is acquired in exchange fora 1000 shares of common stok of the company. The so hasa per value pershare of $10 and amarket price of $ 13 pershare Debit Credit Acct 311 Chapter 10 - Lab of 10 File: Acer 311 -Lab 9 of 10 - Chapter 10-Spring 2020 1. Acquisition of equipment (truck) Acquisition costsoituds Company operate sa re tal computer store. To improve delivery services to custo mers, the company purchase sfour new truck on Apri i 2020 The te msof each of the four trucks are described as follows Truck # 1 has a list price of $ 15,000 and is acquied with a cash payment of $ 13.900 Debit Credit Truck : 2 has a list price of $ 15,000 and is acquired fora down payment of $ 2.000 and azero-interest bearing note with a face amount of $ 14000 The note is due April 1 2021 10% for such a borrowing The company nomaly has to pay an interest rate of and the dealership has an incremental borrowing rate of Debit Credit Truck 3 has a listprice of $ 15000 and is acquired in exchange fora computer system that the company cmesin inventory. The computer system cos's $ 12.000 and is normally sold bythe ampanyfor $ 15200 The company uses a perpetual inventorysystem Debit Credit Truck 4 has alistprice of $ 14000 and is acquired in exchange fora 1000 shares of common stok of the company. The so hasa per value pershare of $10 and amarket price of $ 13 pershare Debit Credit
