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 $12,500 within three months. b. A company purchases for $16,000 cash a new delivery truck that has a list ("sticker") price of $18,500. CAwomen's clothing retailer orders 20 new display stands for $110 each for future delivery. d. A new company is formed and issues 200 shares for $10 per share to investors. e. A company purchases a piece of land for $31.000 cash. An appraiser for the buyer valued the land at $32,600. { The owner of a local company buys a $6,000 car for personal use. Answer from the company's point of view. g. A company borrows $1,100 from a local bank and signs a six-month note for the loan. h. A company pays $1,020 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 owo = 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 3-b. For f, 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