Sales and Cost of Sales FINANCE CONTRACTS INCOME ADJUSTMENTS—NEW ACCOUNT 5010 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Adjustments to income from the sale of new vehicle finance contracts to finance institutions. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Cancellation of finance income due Read more about Finance Contracts Income Adjustments—New[…]
Sales and Cost of Sales FINANCE CONTRACTS INCOME—NEW ACCOUNT 5000 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Income from the sale of new vehicle finance contracts to finance institutions. (For recreation vehicles, see Account 9000). *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Deferred portion Read more about Finance Contracts Income—New[…]
Sales and Cost of Sales USED CPO TRUCKS (FRANCHISE ONLY)—RECONDITIONING—RETAIL/RETAIL LEASE COST OF SALES ACCOUNT 4971, 4976 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Reconditioning costs on Used CPO Trucks (Franchise Only) retail and retail lease trucks sold to retail customers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Read more about Used CPO Trucks (Franchise Only)—Reconditioning—Retail/Retail Lease[…]
Sales and Cost of Sales USED VEHICLE INCENTIVES COST OF SALES ACCOUNT 4890 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Income from used vehicle sales incentive programs conducted by Ford Motor Company. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Accrual of current month’s estimated incentive earnings Read more about Used Vehicle Incentives[…]
Sales and Cost of Sales USED MEDIUM/HEAVY TRUCKS—INVENTORY ADJUSTMENTS COST OF SALES ACCOUNT 4880 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Adjustments of the inventory value of used medium/heavy trucks on hand to current estimated wholesale value. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Read more about Used Medium/Heavy Trucks—Inventory Adjustments[…]
Sales and Cost of Sales USED MEDIUM/HEAVY TRUCKS—RECONDITIONING—RETAIL/RETAIL LEASE COST OF SALES ACCOUNT 4861-4866 – 4871-4876 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Reconditioning costs on used, remarketed and used retail lease medium/heavy trucks sold to retail customers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Read more about Used Medium/Heavy Trucks—Reconditioning—Retail/Retail Lease[…]
Sales and Cost of Sales USED CERTIFIED CARS (FRANCHISE ONLY)—RECONDITIONING—RETAIL/RETAIL LEASE COST OF SALES ACCOUNT 4831, 4836 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Reconditioning costs on Used Certified Cars (Franchise Only) retail lease cars sold to retail customers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Read more about Used Certified Cars (Franchise Only)—Reconditioning—Retail/Retail Lease[…]
Sales and Cost of Sales USED/REMARKETED SUV/TRUCKS—RECONDITIONING—WHOLESALE COST OF SALES ACCOUNT 4761-4956 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cost of reconditioning used and remarketed SUV/Trucks sold to wholesale customers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Costing of sale of used SUV/Truck sold to a Read more about Used/Remarketed SUV/Trucks—Reconditioning—Wholesale[…]
Sales and Cost of Sales USED SUV/TRUCKS—INVENTORY ADJUSTMENTS COST OF SALES ACCOUNT 4752 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Adjustments of the inventory value of used, used retail lease and remarketed SUV/Trucks on hand to current estimated wholesale value. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Read more about Used SUV/Trucks—Inventory Adjustments[…]
Sales and Cost of Sales USED (NON CERTIFIED) & REMARKETED SUV/TRUCK—RECONDITIONING—RETAIL/RETAIL LEASE COST OF SALES ACCOUNT 4751/4766 – 4951/4966 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Reconditioning costs on (Non Certified) used, remarketed and used (Non Certified) retail SUV/Truck sold to retail customers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers Read more about Used (Non Certified) & Remarketed SUV/Trucks—Reconditioning—Retail/Retail Lease[…]