Palmer Cook Music Productions manages and operates two bands The company entered into the following transactions during a recent year January 2 Purchased a tour bus for $94,000 by paying $33,000 cash and signing a $61,000 note due in two years In its accounting system, the company records the vehicle distinct from other types of equipment January 8 After the bus was used for nearly one week, it was painted with the logos of the two bands at a cost of $300, on account The logos did not increase the lifespan, operating capacity, or operating efficiency of the bus, but they were thought to be useful in promoting the bands January 30 Wrote a check for the amount owed on account for the work completed on January 8 February 1 Purchased new speakers and amplifiers and wrote a check for the full $31,500 cost February 8 Paid $200 cash for minor repairs to the tour bus March 1 Paid $33,000 cash and signed a $255,000 five year note to purchase a small office building and land An appraisal indicated that the building and land contributed equally to the total price March 31 Paid $92,000 cash to acquire the goodwill and certain tangible assets of Kris Myth, Inc The fair values of the tangible assets acquired were $22,000 for band equipment and $62,000 for recording equipment Required 1 a Complete the table below for the above transactions TIP Goodwill is recorded as the excess of the purchase price over the fair value of individual assets (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign ) MoveIt Corporation is the worlds leading express distribution company In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages Assume that MoveIt sold a delivery truck for $21,000 MoveIt had originally purchased the truck for $35,000 and had recorded depreciation for three years Using the following structure, indicate the effects (accounts, amounts, and for increase and for decrease) of the disposal of the truck, assuming that Accumulated Depreciation was (a) $14,000, (b) $11,000, and (c) $19,000 (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign )

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Palmer Cook Music Productions manages and operates two bands. The company entered into the following transactions during a recent year. January 2 Purchased a tour

Palmer Cook Music Productions manages and operates two bands. The company entered into the following transactions during a recent year.

January	2	Purchased a tour bus for $94,000 by paying $33,000 cash and signing a $61,000 note due in two years. In its accounting system, the company records the vehicle distinct from other types of equipment.
January	8	After the bus was used for nearly one week, it was painted with the logos of the two bands at a cost of $300, on account. The logos did not increase the lifespan, operating capacity, or operating efficiency of the bus, but they were thought to be useful in promoting the bands.
January	30	Wrote a check for the amount owed on account for the work completed on January 8.
February	1	Purchased new speakers and amplifiers and wrote a check for the full $31,500 cost.
February	8	Paid $200 cash for minor repairs to the tour bus.
March	1	Paid $33,000 cash and signed a $255,000 five-year note to purchase a small office building and land. An appraisal indicated that the building and land contributed equally to the total price.
March	31	Paid $92,000 cash to acquire the goodwill and certain tangible assets of Kris Myth, Inc. The fair values of the tangible assets acquired were $22,000 for band equipment and $62,000 for recording equipment.

Required:

1-a. Complete the table below for the above transactions. TIP: Goodwill is recorded as the excess of the purchase price over the fair value of individual assets. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)

MoveIt Corporation is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that MoveIt sold a delivery truck for $21,000. MoveIt had originally purchased the truck for $35,000 and had recorded depreciation for three years.

Using the following structure, indicate the effects (accounts, amounts, and + for increase and for decrease) of the disposal of the truck, assuming that Accumulated Depreciation was (a) $14,000, (b) $11,000, and (c) $19,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)