Assets INVENTORY—REMARKETED SUV/TRUCKS ASSET ACCOUNT 1365 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Remarketed SUV/Trucks held for resale valued at the lower of cost or estimated wholesale value. Cost includes reconditioning charges, if any. TRANSACTIONS Jrnl. Dr. Cr. Reconditioning work performed on remarketed SUV/Truck I Inventory—Remarketed SUV/Trucks 1365 Sales—Parts to Service—Internal 5470 Sales—Parts to Body Shop—Internal Read more about Inventory—Remarketed SUV/Trucks[…]

Assets INVENTORY—USED SUV/TRUCKS (NON CERTIFIED) ASSET ACCOUNT 1360 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Used SUV/Trucks Non Certified held for resale valued at the lower of cost or estimated wholesale value. Cost includes reconditioning charges. TRANSACTIONS Jrnl. Dr. Cr. Used SUV/Truck Non Certified taken in trade on new truck sale NV Inventory—Used SUV/Trucks Non Certified Read more about Inventory—Used SUV/Trucks (Non Certified)[…]

Assets INVENTORY—REMARKETED CARS ASSET ACCOUNT 1355 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Remarketed cars held for resale valued at the lower of cost or estimated wholesale value. Cost includes reconditioning charges, if any. TRANSACTIONS   Jrnl. Dr. Cr.   Purchase of a remarketed vehicle on wholesale floor plan VP     Inventory—Remarketed Car 1355   Read more about Inventory-Remarketed Cars[…]

Assets INVENTORY—USED CARS (NON CERTIFIED) ASSET ACCOUNT 1350 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Used Cars Non Certified held for resale valued at the lower of cost or estimated wholesale value. Cost includes reconditioning charges. TRANSACTIONS Jrnl. Dr. Cr. Used car non certified taken in trade on new car sale NV Inventory—Used Cars Non Certified Read more about Inventory—Used Cars (Non Certified)[…]

Assets INVENTORY—DEMONSTRATORS—OTHER FRANCHISE ASSET ACCOUNT 1345 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION New vehicles in demonstrator service, valued at factory invoice cost, less holdback, or at estimated wholesale value, whichever is lower. Includes labor and material charges for dealer-installed options and accessories. TRANSACTIONS   Jrnl. Dr. Cr.   New car placed in demonstrator service G Read more about Inventory—Demonstrators—Other Franchise[…]

Assets INVENTORY—DEMONSTRATORS ASSET ACCOUNT 1340 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION New vehicles in demonstrator service, valued at factory invoice cost, less holdback, or at estimated wholesale value, whichever is lower. Includes labor and material charges for dealer-installed options and accessories. TRANSACTIONS   Jrnl. Dr. Cr.   New car placed in demonstrator service G   Read more about Inventory—Demonstrators[…]

Assets INVENTORY—USED CARS—OTHER FRANCHISE ASSET ACCOUNT 1330 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Other franchised used cars held for resale valued at the lower of cost or estimated wholesale value. Cost includes recondition charges. TRANSACTIONS   Jrnl. Dr. Cr.   Used Car—Other Franchise taken in trade on new car sale NV     Inventory—Used Car—Other Read more about Inventory-Used Cars-Other Franchise[…]

Assets INVENTORY—NEW TRUCKS—OTHER FRANCHISE ASSET ACCOUNT 1315 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cost of New Other Franchise Trucks, truck bodies and equipment on hand, including labor and material charges for dealer-installed options and accessories. Cost excluded holdback on vehicles purchased from Other Manufacture Companies. New vehicles purchased from the company should be recorded in Read more about Inventory—New Trucks—Other Franchise[…]

Assets INVENTORY—NEW TRUCKS ASSET ACCOUNT 1310 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cost of new trucks, truck bodies and equipment on hand, including labor and material charges for dealer-installed options and accessories. Cost excluded holdback on vehicles purchased from Ford Motor Company. New vehicles purchased from the company should be recorded in inventory at cost, Read more about Inventory—New Trucks[…]

Assets INVENTORY—NEW CARS—OTHER FRANCHISE ASSET ACCOUNT 1305 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cost of new cars on hand, including labor and material charges for dealer-installed options and accessories. Cost excludes holdback on vehicles purchased from other manufacturers. New vehicles purchased from these manufacturers should be recorded in inventory at cost, excluding the vehicle holdback. Read more about Inventory-New Cars-Other Franchise[…]