The following information is related to Rommel Group.

1. On July 6, Rommel acquired the plant assets of Studebaker SE, which had discontinued operations. The appraised value of the property is: 

Land ........................ € 400,000
Building .................... 1,200,000
Machinery .................. 800,000
Total ..................... €2,400,000

Rommel gave 12,500 shares of its €100 par value ordinary shares in exchange. The shares had a market price of €180 per share on the date of the purchase of the property.

2. Rommel expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building.

Repairs to building .................................................................................... €105,000
Construction of bases for machinery to be installed later .................... 135,000
Driveways and parking lots ....................................................................... 122,000
Remodeling of office space in building, including new partitions
and walls ..................................................................................................... 161,000
Special assessment by city on land ............................................................ 18,000

3. On December 20, the company paid cash for machinery, €280,000, subject to a 2% cash discount, and freight on machinery of €10,500.

Instructions

Prepare entries on the books of Rommel for these transactions.