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Required information [The following information applies to the questions displayed below] The following are independent situations. a. A new company is formed and sells 100

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Required information [The following information applies to the questions displayed below] The following are independent situations. a. A new company is formed and sells 100 shares of $1 par value stock for $12 per share to investors. b. A company purchases for $18,000 cash a new delivery truck that has a list, or sticker, price of $21,000. c. A women's clothing retaller orders 30 new display stands for $300 each for future delivery. d. A company orders and receives 10 personal computers for office use for which it signs a note promising to pay $25.000 within three months. e. A construction company signs a contract to bulld a new $500,000 warehouse for a corporate customer. At the signing, the corporation writes a check for $50,000 to the construction company as the initial payment for the construction (recelving construction in progress). Answer from the standpoint of the corporation (not the construction company) t. A publishing firm purchases for $40,000 cash the copytight (an intangible asset) to a manuscript for an introductory accounting text. g. A manufacturing firm declares a $100,000 cash dividend to be distributed to stockholders next period: h. A company purchases a plece of land for $50,000 cash. An appraiser for the buyer values the land ot $52,500. 1. A manufacturing company acquires the patent (an intangible asset) on a new digital satellite system for television reception, paying $500,000 cash and signing 6$400,000 note payable due in one year. j. A local company is a sole proprietorship (one owner), its owner buys a car for $10,000 for personal use. Answer from the local company's point of view. k. A company purchoses 100 shares of Apple Incorporated common stock as an investment for $5,000 cash. 1. A company borrows $1,000 from a local bank and signs a sbi-month note for the loan. m. A company pays $1,500 principal on its note payable (ignore interest). Experte

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