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(Solved): A company orders and receives 12 personal computers for office use for which it signs a note promisi ...



A company orders and receives 12 personal computers for office use for which it signs a note promising to pay $18,600 within three months. A company purchases for $22,000 cash a new delivery truck that has a list (“sticker”) price of $24,500. A women’s clothing retailer orders 20 new display stands for $170 each for future delivery. A new company is formed and issues 800 shares for $16 per share to investors. A company purchases a piece of land for $37,000 cash. An appraiser for the buyer valued the land at $39,200. The owner of a local company buys a $12,000 car for personal use. Answer from the company’s point of view. A company borrows $1,400 from a local bank and signs a six-month note for the loan. A company pays $1,140 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.



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1. Indicate titles of the appropriate accounts, if any, affected in each
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