B. Tony formed a business called Tone's Big Screen TV Emporium Inc. during the month of September. Doors will open for business on October 1. The following occurred during September: 1. Tony invested the following in the business in exchange for equity: 2. 3. 4. 5. 6. 7. 8. 9. Tony personally borrowed $250,000 from the bank at 6%. Tony then invested the funds in the business. Used computer equipment worth $18k with original cost of $30k. Estimates 3 years of service remain. Office equip. worth $12k with original cost of $24k. Estimates 8 years of service remain. Purchased a small office building and land for $400k by paying $80k down payment and borrowing the balance at 6%. The land was valued at $160k and the office building at $240k. The building is estimated to be used for 20 years. Hired Brendan Construction Co. to make $120k in improvements and upgrades to the newly acquired building: Capitalized/Category Cost $28,000 $26,000 $30,000 $36,000 Walls, new wiring, outlets - building Warehouse inventory racks equipment Integrated Bluetooth and Wireless Systems - computer/it equipment Environmental controls - computer/it equipment Useful for Same as building 8 years 3 years 3 years Ordered 100 big screen TVs from Sony at a cost of $800 each. Payment is due 30 days after receipt. Hired 2 salespeople with salaries of $5000 a month plus 5% sales commissions. Salespersons begin work on October 1. Brendan construction finished the work on 9/20 and billed Tone's due in 30 days. Tone received 100 big screen TVs ordered from Sony on 9/22. Hired Jordy's Digital Ads Consulting to develop a digital advertising campaign for $10,000. Jordy will develop and stream multiple digital ads on various social media platforms. The ads will run on October 1. Purchased new warehouse equipment for $80,000 in cash. The equipment will be useful for years. right R. Dal 2022 no copying