Path:p Words: QUESTION 13 At the beginning of its operations, Delta Company purchased land for $100,000 and a building for $180,000. After exactly 3 years, it transferred these assets and cash of $50,000 to a newly created subsidiary, Roman Company, in exchange for 15,000 shares of Roman's $10 par value stock. Delta uses straight-line depreciation. Useful life for the building is 30 years, with zero residual value. An appraisal revealed that the land had a fair market value of 150,000 and the building had a fair value of $200,000 on the day of transfer Required: Provide the journal entry Delta made to record creation of its subsidiary TTTT Paragraph Arial 3 (12pt) + ng ' . IE T