Accounting Question HELP!

#13 Various PPE acquisition methods: via stock issuance, deferred payment purchase; subsequent expenditures 1. Zonker Company acquired property, plant, and equipment from Doonesbury Company. The assets had these appraised values: Land $ 400,000 Buildings 1,200,000 Equipment 800,000 Total $ 2,400,000 Zonker gave 12,500 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 acquisition. 2. Zanker Company incurred these expenditures with respect one of its buildings: Major repairs to building $105,000 Construction of bases for equipment to be operated in the building 135,000 Driveways and parking lots 122,000 Remodeling of office space in building, new partitions and walls 161,000 Special land assessment by the city on which the building sits 18,000 3. On December 20, Zanker Company purchased equipment and presented the vendor with a $260,000, zero-interest note due in 2 years. Its prevailing rate for this type of transaction is 8%. Prepare entries on the books of Zonker Company for these transactions. Date Account Debit Credit 1. 8 of 9