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 retailer 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 build 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). f. A publishing firm purchases for \\( \\$ 40,000 \\) cash the copyright (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 piece of land for \\( \\$ 50,000 \\) cash. An appraiser for the buyer values the land at \\( \\$ 52,500 \\). i. A manufacturing company acquires the patent (an intangible asset) on a new digital satellite system for television reception, paying \\( \\$ 500,000 \\) cash and signing a \\( \\$ 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 purchases 100 shares of Apple Incorporated common stock as an investment for \\( \\$ 5,000 \\) cash. l. A company borrows \\( \\$ 1,000 \\) from a local bank and signs a six-month note for the loan. m. A company pays \\( \\$ 1,500 \\) principal on its note payable (ignore interest). 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 retailer 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 build 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). f. A publishing firm purchases for \\( \\$ 40,000 \\) cash the copyright (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 piece of land for \\( \\$ 50,000 \\) cash. An appraiser for the buyer values the land at \\( \\$ 52,500 \\). i. A manufacturing company acquires the patent (an intangible asset) on a new digital satellite system for television reception, paying \\( \\$ 500,000 \\) cash and signing a \\( \\$ 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 purchases 100 shares of Apple Incorporated common stock as an investment for \\( \\$ 5,000 \\) cash. l. A company borrows \\( \\$ 1,000 \\) from a local bank and signs a six-month note for the loan. m. A company pays \\( \\$ 1,500 \\) principal on its note payable (ignore interest)
