Sales and Cost of Sales
| NEW SUV RETAIL SALES |
|
ACCOUNT |
| SALES |
3008-3596 |
| COST OF SALES |
4008-4596 |
|
|
ACCOUNT EXPLANATION
|
| Sales: Value of lease contracts, less any discounts or overallowances, of new cars leased to retail customers..Cost of Sales: Inventory value of units sold. Note that inventory value is cost less vehicle holdback.
*NOTE: A separate series of numbers has been assigned for retail leases. The lease numbers are paired with the retail sales numbers by changing the last digit of the sales number to 1:
| Expedition—Retail Sales/Cost of Sales |
3400, 4400 |
| Expedition—Retail Leases/COS |
3401, 4401 |
|
TRANSACTIONS
|
|
|
|
Jrnl. |
Dr. |
Cr. |
|
|
|
Sale of vehicle and assignment of Red Carpet Lease Plan to F.M.C.C. |
|
VS |
|
|
|
|
Accounts Receivable—F.M.C.C. Lease Plan |
|
|
1135 |
|
|
|
Accounts Receivable—F.M.C.C. Deferred Gross |
|
|
1836 |
|
|
|
|
New SUV—Retail Leases |
|
|
|
3401,
etc |
|
|
|
|
|
|
|
|
|
Cost of sale of vehicle sold to F.M.C.C. |
|
VS |
|
|
|
|
Cost of Sales—Retail Leases |
|
|
4401,
etc |
|
|
|
|
Inventory—New SUV—Ford Motor Company |
|
|
|
1310 |
|
COMMENTS
|
- Retail lease data should be entered on the subsidiary vehicle inventory record.
- SUVs placed in leasing or rental service within the dealership operation should be recorded as inventory transfers at dealer cost, not as retail leases. New vehicle sales to a separate leasing organization, independent or dealer-owned, should be recorded in Account 3470, Fleet Light Trucks.
- Information regarding sales to dealers with an associate sales agreement is contained in instructions issued by Ford Motor Company.
|
