Ac551 All Homework Solutions

E10-1 Land ItemLandImprovements Building Other Accounts (a) ($275,000) Notes collectible (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 shift #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 socio-economic class = $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 equivalence ---- 3,000.00 (1,000 shares x $13 = $13,000) E10-4 Purchase Cash gainful for equipment, including sales tax of $5,000$105,000 Freight and insurance while in transportation 2,000 Cost of moving equipment into place at factory 3,100 net income cost for technicians to test equipment 6,000 Special plumbing fixtures required for bare-assed 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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