The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,170 shares of $1 par value common stock with a market price of $15 per share. Purchased $8,100 of equipment, paying $1,200 in cash and owing the rest on accounts payable to the manufacturer. Borrowed $11,000 cash from a bank. Loaned $700 to an employee who signed a note. Purchased $22,375 of land; paid $9,000 in cash and signed a note for the balance.

Boteck is a full-service technology company. it provides equipment, installation services, and training services. customers can purchase any product or service separately or as a bundled package. on may 3, box-rite corporation purchased computer equipment, installation, and training for a total cost of $120,000. estimated stand-alone fair values of the equipment, installation, and training are $75,000, $50,000, and $25,000 respectively. the journal entry to record the sale and installation on may 3 will include select one:

Last week paul, ceo of quality furniture in south carolina, traveled to europe to visit customers. while overseas, paul checked his e-mail daily and showed his company's website to customers, explaining how the website will them place orders and receive merchandise more quickly. after visiting the last customer friday morning, paul was able to return to the corporate office in south carolina to meet with his board of directors that night. is the "shrinking" of time and space with air travel and electronic media.

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