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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 to

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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 to pay $12,000 within three months. D. A company purchases for $15,000 cash a new delivery truck that has a list (sticker") price of $17.000. c. A women's clothing retailer orders 20 new display stands for $100 each for future delivery d. A new company is formed and issues 100 shares for $30 per share to investors. e. A company purchases a piece of land for $30,000 cash. An appraiser for the buyer valued the land at $31,500 The owner of a local company buys a $5,000 car for personal use. Answer from the company's point of view. 9. A company borrows $1050 from a local bank and signs a six-month note for the loan 1. A company pays $1.000 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. Given Received a b d 1 h 2-a. At what amount would you record the delivery truck in b? Amount 2.b. At what amount would you record the piece of land in e? Amount 2-c. What measurement principle are you applying? These are applications of the cost principle. These are applications of the market price principle. 3-a. What reasoning did you apply in c? The agreement in c. involves exchange of cash and goods and thus it is a transaction The agreement in c. involves no exchange or receipt of cash, goods, or services and thus is not a transaction 3-b. Forf, what accounting concept did you apply? Because transaction f.occurs between the company and others, the separate entity assumption implies this transaction does affect the business. Because transaction f occurs between the owner and others, the separate entity assumption implies this transaction does not affect the business

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