1. On July 6, Metlock Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Land Buildings Equipment Total $200,000 600.000 400.000 $1.200.000 Metlock Company gave 12,000 shares of its $100 par value common stock in exchange. The stock had a market price of $168 per share on the date of the purchase of the property 2. Metlock Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building (Prepare consolidated entry for all transactions below) Repairs to building $273,000 Construction of bases for equipment to be installed later 351,000 Driveways and parking lots 317.200 Remodeling at office space in building including new partitions and walls 418,600 Special assessment by city on land 46,800 3. On December 20, the company paid cash for equipment,5676,000, subject to a 2% cash discount, and freight on equipment of $27.300 Prepare entries on the books of Metlock Company for these transactions (Round intermediate calculations to 5 decimal places, 4.3. 1.25124 and final answer to 0 decimal placeses. 58,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1008000 Machinery 672000 336000 Cool Common Stock 12000000 816000 2. but 133000 67500 61000 9000 270500 3. Machinery 132650 C 132650