Assets Cash Prepaid Expenses Cash Equivalent Leased & Rental Vehicles Receivables Property, Plant & Equipment Inventories Other Non-Current Assets Cash Petty Cash Cash in Bank—General Cash in Bank—Payroll Cash in Bank—Trust Cash Sales—Clearing Money-Market Deposits Cash Equivalent Finance Contracts—New Finance Contracts—Used Marketable Securities Receivables Notes Receivable Discounted Notes Receivable (Non US) Accounts Read more about Assets Menu[…]
Assets OTHER ASSETS—ACCUMULATED DEPRECIATION ASSET ACCOUNT 1837 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Accumulated depreciation on depreciable assets in Account 1830, Other Assets. TRANSACTIONS Jrnl. Dr. Cr. Monthly provision for depreciation on other assets SE Other Deductions 9450 Other Assets—Accumulated Depreciation 1837 COMMENTS Detailed fixed asset depreciation records Read more about Other Assets—Accumulated Depreciation[…]
Assets ACCOUNTS RECEIVABLE—F.M.C.C.—DEFERRED GROSS ASSET ACCOUNT 1836 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Deferred income from sale of lease contracts. TRANSACTIONS Jrnl. Dr. Cr. Sale of vehicle and assignment of lease to F.M.C.C. VS Accounts Receivable—F.M.C.C.—Lease Plan 1135 Accounts Receivable—F.M.C.C.—Deferred Gross 1836 Sales—Fleet (Ford) 3350 Read more about Accounts Receivable—F.M.C.C.—Deferred Gross[…]
Assets DEFERRED CHARGES, DEPOSITS & OTHER ASSET ACCOUNT 1835 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Deferred charges generally include expenditures that are proper charges to income of future years. Deposits include amounts paid that are refundable in future years. TRANSACTIONS Jrnl. Dr. Cr. Utility deposit CD Deferred Charges, Deposits & Other Read more about Deferred Charges, Deposits & Other[…]
Assets ORGANIZATION EXPENSE—ACCUMULATED AMORTIZATION ASSET ACCOUNT 1834 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Accumulated amortization of organization expense. TRANSACTIONS Jrnl. Dr. Cr. Monthly provision for amortization of organization expense SE Miscellaneous Expense 8820 Organization Expense—Accumulated Amortization 1834 COMMENTS Since special treatment of this account may be required for Read more about Organization Expense—Accumulated Amortization[…]
Assets ORGANIZATION EXPENSE ASSET ACCOUNT 1833 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expenditures resulting from the original incorporation of the dealership. TRANSACTIONS Jrnl. Dr. Cr. Payment of attorney’s fees for incorporation of dealership CD Organization Expense 1833 Cash in Bank—General 1001 COMMENTS This account includes such items as Read more about Organization Expense[…]
Assets ADVANCES—SUBSIDIARIES & AFFILIATES ASSET ACCOUNT 1832 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Advances due from a subsidiary company of which the dealership owns 50% or more of the voting stock and advances due from an affiliated company in which the dealership owns less than 50% of the voting stock if controlled by common management. Read more about Advances—Subsidiaries & Affiliates[…]
Assets INVESTMENTS—SUBSIDIARIES & AFFILIATES ASSET ACCOUNT 1831 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION The value of the dealership’s equity in subsidiary or affiliated companies in which the dealership owns 50% or more of the voting stock. Also, the cost or value of the dealership’s investments in subsidiary or affiliated companies in which the dealership owns Read more about Investments—Subsidiaries & Affiliates[…]
Assets OTHER ASSETS ASSET ACCOUNT 1830 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cost of assets acquired for which specific accounts are not provided elsewhere in this Manual, including assets not used in the automobile business. Includes the cost of securities that are not readily marketable. TRANSACTIONS Jrnl. Dr. Cr. Land acquired for future Read more about Other Assets[…]
Assets CASH VALUE OF LIFE INSURANCE ASSET ACCOUNT 1820 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cash surrender value, including accrued dividends and interest, of insurance on the lives of officers and employees of which the dealership is the beneficiary. TRANSACTIONS Jrnl. Dr. Cr. Monthly increases in cash surrender value SE Cash Read more about Cash Value of Life Insurance[…]