A company orders and receives 10 personal computers for office use for which it signs a note promising to pay $20,000 within three months. A company purchases for $40,000 cash a new delivery truck that has a list (“sticker”) price of $43,000.
A women’s clothing retailer orders 30 new display stands for $490 each for future delivery.
A new company is formed and issues 100 shares of stock for $14 per share to investors.
A company purchases a piece of land for $48,000 cash. An appraiser for the buyer valued the land at $55,100.
The owner of a local company uses a personal check to buy a $19,500 car for personal use. Answer from the company’s point of view.
A company borrows $11,500 from a local bank and signs a six-month note for the loan.
A company pays $3,400 owed on its 10-year notes payable (ignore interest).

Required:
1. Indicate titles of the appropriate accounts, if any, affected in each of the preceding events.
2-a. At what amount would you record the delivery truck in (b)?
2-b. At what amount would you record the piece of land in (e)?
2-c. What measurement principle are you applying?
3-a. What reasoning did you apply in (c)?
3-b. For (f), what accounting concept did you apply?