Sales and Cost of Sales USED CARS—OTHER FRANCHISE—RECONDITIONING—RETAIL/RETAIL LEASE ACCOUNT SALES  4721 COST OF SALES  4731 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Reconditioning costs on Non FoMoCo Used Retail/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.   Costing Read more about Used Cars—Other Franchise—Reconditioning—Retail/Retail Lease[…]

Sales and Cost of Sales USED/REMARKETED CARS—RECONDITIONING—WHOLESALE COST OF SALES ACCOUNT 4711-4807 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cost of reconditioning used and remarketed cars sold to wholesale customers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS   Jrnl. Dr. Cr.   Costing of used car sold to wholesale Read more about Used/Remarketed Cars—Reconditioning—Wholesale[…]

Sales and Cost of Sales USED/REMARKETED CARS—INVENTORY ADJUSTMENTS COST OF SALES ACCOUNT 4702 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Adjustments of the inventory value of used, used retail lease and remarketed cars on hand to current estimated wholesale value. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS   Jrnl. Read more about Used/Remarketed Cars—Inventory Adjustments[…]

Sales and Cost of Sales USED (NON CERTIFIED) & REMARKETED CARS—RECONDITIONING—RETAIL/RETAIL LEASE COST OF SALES ACCOUNT 4701-4801 – 4716-4816 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Reconditioning costs on (Non Certified) used, remarketed and used (Non Certified) retail lease cars sold to retail customers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account Read more about Used (Non Certified) & Remarketed Cars—Reconditioning—Retail/Retail Lease[…]

Sales and Cost of Sales DEALER TRANSFERS ACCOUNT 4640 ACCOUNT EXPLANATION TRANSACTIONS ACCOUNT EXPLANATION The gross amount gained (or lost) when cars and trucks are transferred from one dealer to another. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS   Jrnl. Dr. Cr.   Transfer of new car to Read more about Dealer Transfers[…]

Sales and Cost of Sales RESALE (HD ONLY) ACCOUNT 4630 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Gross earned on heavy-duty trucks resold by dealerships with the Ford heavy-duty franchise only to regular-line Ford dealers. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS   Jrnl. Dr. Cr.   New HD Read more about Resale (HD Only)[…]

Sales and Cost of Sales TRUCK INCENTIVES ACCOUNT 4620 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Income from truck 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 G     Read more about Truck Incentives[…]

Sales and Cost of Sales CAR INCENTIVES ACCOUNT 4380 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Income from car sales incentive programs 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 G     Ford Read more about Car Incentives[…]

Sales and Cost of Sales USED CPO TRUCKS (FRANCHISE ONLY)—RETAIL LEASE ACCOUNT SALES 3975 COST OF SALES  4975, 4976 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Value of lease contracts, less any discounts or overallowances, of used cpo light trucks (franchise only) leased to retail customer, usually under Red Carpet Lease Programs. Cost of Sales: Read more about Used CPO Trucks (Franchise Only)—Retail Lease[…]

Sales and Cost of Sales USED CPO TRUCKS (FRANCHISE ONLY)—RETAIL ACCOUNT SALES  3970 COST OF SALES  4970 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Selling price, less overallowance, of Used CPO (Franchise Only) trucks sold to retail customers. Cost of Sales: Inventory value, excluding reconditioning costs, of used CPO trucks sold to retail customers. *Refer Read more about Used CPO Trucks (Franchise Only)—Retail[…]