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3. You are assigned to the audit of the account Land, building, machinery and equipment of Blackpini Company, a newly established corporation. A summary of

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3. You are assigned to the audit of the account "Land, building, machinery and equipment" of Blackpini Company, a newly established corporation. A summary of the ledger account appears below: Data Explanation Amount 2017 3,000,00 4-Jun Acquired the plant assets of Twice Company 15-Jun Repairs made to building IOD,000 30-Jun Special tax assessment by dty 15,000 Construction of platform for machinery to be B-Oct Installed later 150,000 Remodeling of office space in building, inchiding 5-Now now partitions and walls 210,000 6-Dec Purchase of machinery . cash payment (gross) 200,000 Balance, Land, building, machinery and 3,675,00 equipment" account, December 31, 2017 a Further verification revealed the following Information: (a) The appraised value of the property acquired from Twice Company, which had stopped operations, were as follows: Land 300,000 2,000,00 Building Machinery and equipment 700,000 3,000,00 In exchange for the property of Twice Company, Backpink issued 25,000 shares of It's P100.00 par value ordinary shares. On the date of purchase, the share had a market value of P108.00 par share. (b) On Dec. 6 acquisition, the company paid cash for the machinery purchase. The company is entitled 2% cash discount. Freight of 18,000 was likewise paid and charged to an expense account. In the balance sheet of Blackpink Company as of June 5, 2017, the Land is? Building is? Machinery and Equipment Is In the balance sheet of Aluckpink Comp Land &? Building is? Machinery and Equipment iP 4. Haike Company acquires a new manufacturing equipment on January 1, 2017, on installa deferred payment contract rovides for a downpayment of P300, 000 and an I-year pain for P3, 104, 160. The note i to be paid in & equal annual Installment pay ants of P388, 020, including 10% Intense T

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