Questions
Tristar Production Company began operations on September 1, 2018. Listed below are a number of transactions...

Tristar Production Company began operations on September 1, 2018. 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.)

On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $270,000 in cash for the property. According to appraisals, the land had a fair value of $185,600 and the building had a fair value of $104,400.

On September 1, Tristar signed a $57,000 noninterest-bearing note to purchase equipment. The $57,000 payment is due on September 1, 2019. Assume that 9% is a reasonable interest rate.

On September 15, a truck was donated to the corporation. Similar trucks were selling for $4,200.

On September 18, the company paid its lawyer $6,000 for organizing the corporation.

On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $32,000 and $1,350 in freight charges also were paid.

On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $7,200 normal cash price. The supplier agreed to accept 200 shares of the company's nopar common stock in exchange for the equipment. The fair value of the stock is not readily determinable.

On December 10, the company acquired a tract of land at a cost of $37,000. It paid $6,000 down and signed a 11% note with both principal and interest due in one year. Eleven percent is an appropriate rate of interest for this note.


Required:
Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollars.)

In: Accounting

Tristar Production Company began operations on September 1, 2021. Listed below are a number of transactions...

Tristar Production Company began operations on September 1, 2021. 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.) On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $110,000 in cash for the property. According to appraisals, the land had a fair value of $78,000 and the building had a fair value of $52,000. On September 1, Tristar signed a $41,000 noninterest-bearing note to purchase equipment. The $41,000 payment is due on September 1, 2022. Assume that 8% is a reasonable interest rate. On September 15, a truck was donated to the corporation. Similar trucks were selling for $2,600. On September 18, the company paid its lawyer $3,500 for organizing the corporation. On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $16,000 and $550 in freight charges also were paid. On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $5,600 normal cash price. The supplier agreed to accept 200 shares of the company's no-par common stock in exchange for the equipment. The fair value of the stock is not readily determinable. On December 10, the company acquired a tract of land at a cost of $21,000. It paid $2,500 down and signed a 10% note with both principal and interest due in one year. Ten percent is an appropriate rate of interest for this note. Required: Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollars.)

In: Accounting

Tristar Production Company began operations on September 1, 2021. Listed below are a number of transactions...

Tristar Production Company began operations on September 1, 2021. 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 $220,000 in cash for the property. According to appraisals, the land had a fair value of $151,200 and the building had a fair value of $88,800.
  2. On September 1, Tristar signed a $52,000 noninterest-bearing note to purchase equipment. The $52,000 payment is due on September 1, 2022. Assume that 10% is a reasonable interest rate.
  3. On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,700.
  4. On September 18, the company paid its lawyer $3,500 for organizing the corporation.
  5. On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $27,000 and $1,100 in freight charges also were paid.
  6. On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $6,700 normal cash price. The supplier agreed to accept 200 shares of the company's no-par common stock in exchange for the equipment. The fair value of the stock is not readily determinable.
  7. On December 10, the company acquired a tract of land at a cost of $32,000. It paid $3,500 down and signed a 12% note with both principal and interest due in one year. Twelve percent is an appropriate rate of interest for this note.

Required:

Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollars.)

In: Accounting

Tristar Production Company began operations on September 1, 2021. Listed below are a number of transactions...

Tristar Production Company began operations on September 1, 2021. 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 $230,000 in cash for the property. According to appraisals, the land had a fair value of $160,000 and the building had a fair value of $90,000.
  2. On September 1, Tristar signed a $53,000 noninterest-bearing note to purchase equipment. The $53,000 payment is due on September 1, 2022. Assume that 8% is a reasonable interest rate.
  3. On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,800.
  4. On September 18, the company paid its lawyer $4,000 for organizing the corporation.
  5. On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $28,000 and $1,150 in freight charges also were paid.
  6. On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $6,800 normal cash price. The supplier agreed to accept 200 shares of the company's no-par common stock in exchange for the equipment. The fair value of the stock is not readily determinable.
  7. On December 10, the company acquired a tract of land at a cost of $33,000. It paid $4,000 down and signed a 10% note with both principal and interest due in one year. Ten percent is an appropriate rate of interest for this note.

Required:

Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollars.)

In: Accounting

Tristar Production Company began operations on September 1, 2018. Listed below are a number of transactions...

Tristar Production Company began operations on September 1, 2018. 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.) On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $250,000 in cash for the property. According to appraisals, the land had a fair value of $178,200 and the building had a fair value of $91,800. On September 1, Tristar signed a $55,000 noninterest-bearing note to purchase equipment. The $55,000 payment is due on September 1, 2019. Assume that 10% is a reasonable interest rate. On September 15, a truck was donated to the corporation. Similar trucks were selling for $4,000. On September 18, the company paid its lawyer $5,000 for organizing the corporation. On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $30,000 and $1,250 in freight charges also were paid. On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $7,000 normal cash price. The supplier agreed to accept 200 shares of the company's nopar common stock in exchange for the equipment. The fair value of the stock is not readily determinable. On December 10, the company acquired a tract of land at a cost of $35,000. It paid $5,000 down and signed a 12% note with both principal and interest due in one year. Twelve percent is an appropriate rate of interest for this note. Required: Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollars.)

In: Accounting

The GPAs of all students enrolled at a large university have an approximately normal distribution with...

The GPAs of all students enrolled at a large university have an approximately normal distribution with a mean of 3.02 and a standard deviation of 0.29 . Find the probability that the mean GPA of a random sample of 20 students selected from this university is 2.87 or lower. Round your answer to four decimal places. P ( x ¯ ≤ 2.87 ) =

PLEASE SHOW WORK

In: Statistics and Probability

A university recruiter claims that 60% of its basketball and football players graduate in 4 years...

A university recruiter claims that 60% of its basketball and football players graduate in 4 years a reporter contacts an SRS of players from the past 20 yrs and finds that only 46 out of 88 had graduated in 4 yrs is there sufficient evidence to write an article disputing the university claim? Give statistical justification for your conclusion

In: Statistics and Probability

Select the correct choice for each question Workers at station producing output in a process would...

Select the correct choice for each question

Workers at station producing output in a process would probably be considered

Natural gas to heat office space where the CEO/CFO work would probably be considered

Electricity to run machines that produce output would probably be considered

Costs that change as output level changes are considered CEO and CFO salaries would probably be considered

Costs that do not change as output level changes are considered

Pick from these options: Variable cost fixed cost

In: Operations Management

When calculating the NCI share of equity the step approach is used. Demonstrate the step approach,...

When calculating the NCI share of equity the step approach is used. Demonstrate the step approach, explaining in detail each journal entry, using the following information:

Time Ltd acquired 90% of Out Ltd for $252,000 cash on 1 July 2018. At that date the equity of Out included the following:

       Share Capital          $200 000

       Retained Earnings              80 000

                                   280 000

On 30 June 2020, Out Ltd provided the following information:

Profit after tax               $ 40 000

Retained earnings (1/7/19)       100 000

Dividend paid                    10 000

In: Accounting

P acquired HHH stock at various times and at various prices over the past three years...

  1. P acquired HHH stock at various times and at various prices over the past three years as shown below. P sold 100 shares of HHH stock for $20,000 in 2020, but he cannot identify the particular shares that were sold. How much gain must P report on the sale?

            P bought 50 shares of HHH stock in 2014 for $3,000.

            In 2016 P bought 100 shares of HHH stock for $5,000

            In 2018 P bought 200 shares of HHH stock for $9,000

          In 2019 P bought 100 shares of HHH stock for $4,500

In: Accounting