1.On July 6, Pronghorn Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:

Land $398,000

Buildings 1,194,000

Equipment 796,000

Total $2,388,000

Pronghorn Company gave12,500shares of its $100par value common stock in exchange. The stock had a market price of $239per share on the date of the purchase of the property.

2.Pronghorn Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. (consolidated entry for all transactions below.)

Repairs to building$95,710Construction of bases for equipment to be installed later121,940Driveways and parking lots118,180Remodeling of office space in building, including new partitions and walls156,570Special assessment by city on land18,030

3.On December 20, the company paid cash for equipment, $282,100, subject to a2% cash discount, and freight on equipment of $9,810.

entries on the books of Pronghorn Company for these transactions.(Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places e.g. 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 0 for the amounts.)