Tristar Production Company began operations on September 1, 2016 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 $210,000 in cash for the property According to appraisals, the land had a fair value of $142,600 and the building had a fair value of $87,400 2 On September 1, Tristar signed a $51,000 noninterest bearing note to purchase equipment The $51,000 payment is due on September 1, 2017 Assume that 9 is a reasonable interest rate 3 On September 15, a truck was donated to the corporation Similar trucks were selling for $3,600 4 On September 18, the company paid its lawyer $3,000 for organizing the corporation 5 On October 10, Tristar purchased equipment for cash The purchase price was $26,000 and $1,050 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 $6,600 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 7 On December 10, the company acquired a tract of land at a cost of $31,000 It paid $3,000 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 ) Journal entry worksheet 2 3 4 5 On September 1, the company paid $210,000 in cash for land and a building that will be used as a warehouse The land and building had a fair values respectively of $142,600 and $87,400 Note Enter debits before credits Transaction General Journal Debit Credit Land Building Cash 210,000 Record entry Clear entry View general journal Journal entry worksheet

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Tristar Production Company began operations on September 1, 2016. Listed below are a number of transactions that occurred during its first four months of operations.

Tristar Production Company began operations on September 1, 2016. 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 $210,000 in cash for the property. According to appraisals, the land had a fair value of $142,600 and the building had a fair value of $87,400.
2.	On September 1, Tristar signed a $51,000 noninterest-bearing note to purchase equipment. The $51,000 payment is due on September 1, 2017. Assume that 9% is a reasonable interest rate.
3.	On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,600.
4.	On September 18, the company paid its lawyer $3,000 for organizing the corporation.
5.	On October 10, Tristar purchased equipment for cash. The purchase price was $26,000 and $1,050 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 $6,600 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.
7.	On December 10, the company acquired a tract of land at a cost of $31,000. It paid $3,000 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.)

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Journal entry worksheet 2 3 4 5 On September 1, the company paid $210,000 in cash for land and a building that will be used as a warehouse. The land and building had a fair values respectively of $142,600 and $87,400. Note: Enter debits before credits. Transaction General Journal Debit Credit Land Building Cash | 210,000 Record entry Clear entry View general journal Journal entry worksheet