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

Land		$418,200
Buildings		1,230,000
Equipment		811,800
Total		$2,460,000

Zonker Company gave 12,500 shares of its $100 par value common stock in exchange. The stock had a fair value of $176 per share on the date of the purchase of the property. 2. Zonker 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		$109,600
Construction of bases for equipment to be installed later		138,600
Driveways and parking lots		138,900
Remodeling of office space in building, including new partitions and walls		170,300
Special assessment by city on land		18,200

3. On December 20, the company paid cash for equipment, $285,300, subject to a 1% cash discount, and freight on equipment of $10,490. Prepare entries on the books of Zonker Company for these transactions. (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.)