Ac551 All Homework Solutions

E10-1 Land ItemLandImprovements Building Other Accounts (a) ($275,000) Notes payable (b)$275,000 (c) $10,000 (d)7,000 (e) 6,000 (f)-1,000 (g)25,000 (h) 250,000 (i) 9,000 (j) $4,000 (k)11,000 (l)-5,000 (m)13,000 (n)19,000 (o)14,000 (p) 3,000 E10-3 1 commit #1 -----------------------------------13,900.00 Cash -----------------------------------13,900.00 2Truck #2 ----------------------------------18,362.00 Discount on Notes Payable ---------- 1,636.20 Cash -----------------------------------2,000.00 Notes Payable -----------------------18,000.00 PV of $18,000 @ 10% for 1 course of study = $18,000 x .90900 = $16,362 $16,362 + $2,000.00 = $18,362 3Truck #3 --------------------------------15,200.00 Cost of Goods Sold ------------------12,000.00 Inventory ------------------------12,000.00 Sales -------------------------------15,200.00 4Truck #4 ----------------------------------13, 000.00 Common Stock --------------------10,000.

00 Paid-in Capital in trim of equality ---- 3,000.00 (1,000 shares x $13 = $13,000) E10-4 Purchase Cash gainful for equipment, including gross revenue tax of $5,000$105,000 Freight and insurance while in traverse 2,000 Cost of moving equipment into place at factory 3,100 charter cost for technicians to test equipment 6,000 Special plumbing fixtures required for fresh equipment 8,000 Total cost $124,100 The insurance premium paying(a) during the first year of operation of this equipment...

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