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Metlock Company gave 12.500 shares of its $100 par value common stock in exchange. The stock had a market price of $168 per share
Metlock Company 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 purchase of the property. 2. Metlock Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building Repairs to building Construction of bases for equipment to be installed later Driveways and parking lots Remodeling of office space in building, including new partitions and walls Special assessment by city on land $157,500 202,500 183,000 241,500 27,000 3. On December 20, the company paid cash for equipment, $390,000, subject to a 2% cash discount, and freight on equipment of $15,750. Prepare entries on the books of Metlock Company for these transactions. (Do not round intermediate calculations and final answers to O decimal places eg. 58,971. 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. O for the amounts. List all debit entries before credit entries.)
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