k Ch2 due 1/30/2019 The f g are in dent situations a A company orders and receives 10 personal computers for office use for which it signs a note promising to pay $20,000 within three months. b. A company purchases for $41,000 cash a new delivery truck that has a list ('sticker) price of $44,000 c A women's clothing retailer orders 30 new display stands for $500 each for future delivery d A new is formed and issues 100 shares of stock for $10 per share to investors purchases a piece of land for $49,000 cash. An appraiser for the buyer valued the land at $56,300 y uses a personal check to buy a $20,000 car for personal use. Answer from the f The owner of a local c s point of $12,000 from a local bank and signs a six-month note for the loan. h A c Required 1. Indicate titles of the appropriate accounts, if any, affected in each of the preceding events. 2-a. At what amount would you record the delivery truck in (b? 2-b. At what amount would you record the piece of land in (e 2-c. What measurement principle are you applying? 3-0. What reasoning did you apply in (c 3-b. For (1). what accounting concept did you apply? Prey 2 of 3E Next> Req 2A Req 2B Req 2C Req 38 Indicate titles of the appropriate accounts, if any, affected in each of the preceding what the company gives Received Req 2A Prey 2 of 3 Next ere to search 2-C. What measurement principle are you applying? 3-o. What reasoning did you apply in (cP 3-b. For (0). what accounting concept did you apply? ints Complete this question by entering your answers in the tabs below. Req 1 Rea 2A Req 28 Req 2C Req 3A Req 3B Print At what amount would you record the delivery truck in (b)? Req 1 Req 2B ype here to search 2-c. What measurement principle are you applying? 3-a. What reasoning did you apply in (C? 3-b. For (f). what accounting concept did you apply? Complate this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 2C Req 3A Req 3B Print At what amount would you record the piece of land in (e)? Mc pe here to search. 3-a. what reasoning did you apply in 3-b. For (f), what accounting concept did you apply? Complete this question by entering your answers in the tabs below. Req 1 What measurement principle are you applying? OThese are applications of the cost principle OThese are applications of the market price principle Req 2A Req 2B Req 2C Req 3A Req 3B 2 3-a. What reasoning did you apply in (cP 34. For (D, what accounting concept did you apply? Complete this question by entering your answers in the tabs below. oped Req 1 Req 2A Req 2B Req 2C Req 3A Req 3B int What reasoning did you apply in (c)? The agreement in (e) involves exchange of cash and goods and thus it is a transaction. in (c) The agreement in (c)involves no exchange or receipt of cash, goods, or services and thus is not a Prev 2 of 3Next > ere to search 2-b. At what amount would you record the piece of land in (e 2-c. What measurement principle are you applying? 3-a. What reasoning did you apply in (cP 3-b. For (f). what accounting concept did you apply? Req 1 Req 2A Req 28 Req 2C Req 3A Req 3B For (f), what accounting concept did you apply? rate Because transaction( K Req 3A 3.. Next>
