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The following are independent situations. a. A company orders and receives 10 personal computers for office use for which it signs a note promising
The following are independent situations. a. A company orders and receives 10 personal computers for office use for which it signs a note promising to pay $13,000 within three months. b. A company purchases for $17,000 cash a new delivery truck that has a list ("sticker") price of $19,500. c. A women's clothing retailer orders 20 new display stands for $120 each for future delivery. d. A new company is formed and issues 300 shares for $11 per share to investors. e. A company purchases a piece of land for $32,000 cash. An appraiser for the buyer valued the land at $33,700. f. The owner of a local company buys a $7,000 car for personal use. Answer from the company's point of view. g. A company borrows $1,150 from a local bank and signs a six-month note for the loan. h. A company pays $1,040 owed on its note payable. (ignore interest.) Required: 1. Indicate titles of the appropriate accounts, if any, affected in each of the preceding events. Consider what the company gives and receives. a. b C. d. e. f. g. Given Received
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