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Kingbird Inc. initiated a major company expansion on January 4, 2025. During the first quarter of 2025, Kingbird acquired several assets that were placed into
Kingbird Inc. initiated a major company expansion on January 4, 2025. During the first quarter of 2025, Kingbird acquired several assets that were placed into production on July 1, 2025. The following costs were incurred: Purchase of Warehouse; exchanged 1,000 shares of Kingbird stock with a par value of $5 per share. Kingbird stock is currently trading at $140 per share. Installation of production line equipment Based on this information, prepare the necessary journal entries to record the asset acquisitions assuming that all assets were purchased for cash except for the warehouse. (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. List all debit entries before credit entries.)
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