Reference no: EM132817795
Following transactions occurred in September 2019:
a. A customer orders and receives 10 personal computers from Dell ; the customer promises to pay $17,300 within three months. Answer from Dell's standpoint.
b. Fucillo Hyundai, Inc., sells a truck with a list, or "sticker," price of $18,550 for $16,550 cash.
c. Bon-Ton Department Store orders 1,000 men's shirts from Arrow Shirt Company for $13 each for future delivery. The terms require payment in full within 30 days of delivery. Answer from Arrow's standpoint.
d. Arrow Shirt Company completes production of the shirts described in (c) and delivers the order. Answer from Arrow's standpoint.
e. Arrow receives payment from Bon-Ton for the order described in (c). Answer from Arrow's standpoint.
f. A customer purchases a ticket from American Airlines for $380 cash to travel the following January. Answer from American Airlines' standpoint.
g. General Motors issues $41 million in new common stock.
h. Penn State University receives $19,300,000 cash for 80,000 five-game season football tickets.
i. Penn State plays the first football game referred to in (h).
j. McPherson Construction Company signs a contract with a customer for the construction of a new $500,000 warehouse. At the signing, McPherson receives a check for $50,000 as a deposit on the future construction. Answer from McPherson's standpoint.
k. A popular ski magazine company receives a total of $1,560 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint.
l. Sears, a retail store, sells a $160 lamp to a customer who charges the sale on his store credit card. Answer from the standpoint of Sears.
Problem 1: Which transactions have caused the increase of revenues?
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