Information for Sheridan Ltd. follows: 1. On July 6, Sheridan acquired the plant assets of Desbury Company, which had discontinued operations. The property was appraised by a reliable, independent valuator on the date of acquisition as to Land $ 532,000 Building-structure 1,461,000 Building-HVAC 180,000 Machinery 737.000 Total $ 2,910,000 Sheridan gave 17,000 of its common shares in exchange. The most recent sale of Sheridan's common shares took place last month, when 6,200 shares were sold for $150 per share 2. Sheridan had the following cash expenses between July 6 and December 15, the date when it first occupied the building: Renovations and refurbishments of building $ 101.000 Construction of bases for machinery to be installed later 136,000 Driveways and parking lots 121.000 Remodeling of office space in building, including new partitions and walls 65,600 Special assessment by city on land 19,000 on December 20, Sheridan purchased machinery for $200,000, subject to a cash discount and paid right on the machinery of $13,400. The machine was ripped while being action which resulted in paying the supplied for repairs costing $19.500. The company the supplier on the day that the machinery was received and recorded the purchase of machinerye of an Prepare the entries for these transactions on the books of Sheridan Ltd. Sheridan prepares financial statements in accordance with RS (Cred accountles are all the is entered. Do not indent manually. If no untry is required, select "No Entry for the acties and enter for the Accountities and Explanation Debut Credit 1 Information for Sheridan Ltd. follows: 1. On July 6, Sheridan acquired the plant assets of Desbury Company, which had discontinued operations. The property was appraised by a reliable, independent valuator on the date of acquisition as to Land $ 532,000 Building-structure 1,461,000 Building-HVAC 180,000 Machinery 737.000 Total $ 2,910,000 Sheridan gave 17,000 of its common shares in exchange. The most recent sale of Sheridan's common shares took place last month, when 6,200 shares were sold for $150 per share 2. Sheridan had the following cash expenses between July 6 and December 15, the date when it first occupied the building: Renovations and refurbishments of building $ 101.000 Construction of bases for machinery to be installed later 136,000 Driveways and parking lots 121.000 Remodeling of office space in building, including new partitions and walls 65,600 Special assessment by city on land 19,000 on December 20, Sheridan purchased machinery for $200,000, subject to a cash discount and paid right on the machinery of $13,400. The machine was ripped while being action which resulted in paying the supplied for repairs costing $19.500. The company the supplier on the day that the machinery was received and recorded the purchase of machinerye of an Prepare the entries for these transactions on the books of Sheridan Ltd. Sheridan prepares financial statements in accordance with RS (Cred accountles are all the is entered. Do not indent manually. If no untry is required, select "No Entry for the acties and enter for the Accountities and Explanation Debut Credit 1
