Answer:
operations on September 1, 2013. Listed below are a number of transactions that occurred during its first four months of operations. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
1. On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $150,000 in cash for the property. According to appraisals, the land had a fair value of $108,800 and the building had a fair value of $61,200.
2. On September 1, Tristar signed a $45,000 noninterest-bearing note to purchase equipment. The $45,000 payment is due on September 1, 2014. Assume that 9% is a reasonable interest rate.
3. On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,000.
4. On September 18, the company paid its lawyer $5,500 for organizing the corporation.
5. On October 10, Tristar purchased machinery for cash. The purchase price was $20,000 and $750 in freight
