Plant acquisitions for selected companies are as follows. 1. Cheyenne Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $980,000. At the time of purchase, Torres's assets had the following book and appraisal values. Book Values Appraisal Values $210,000 Land $280,000 Buildings 350.000 490,000 Equipment 420.000 420,000 To be conservative, the company decided to take the lower of the two values for each asset acquired. The following entry was made. Land 210,000 Buildings 350.000 Equipment 420,000 Cash 980.000 2. Ayayal Enterprises purchased store equipment by making a $2.800 cash down payment and signing a 1year, $32.200, 10% note payable. The purchase was recorded as follows. 2. Ayayai Enterprises purchased store equipment by making a $2,800 cash down payment and signing a 1-year, $32,200, 10% note payable. The purchase was recorded as follows. 38.220 Equipment Cash Notes Payable Interest Payable 2,800 32,200 3,220 3. Pina Company purchased office equipment for $21,100, terms 2/10, 1/30. Because the company intended to take the discount, it made no entry until it paid for the acquisition. The entry was: 21,100 Equipment Cash Purchase Discounts 20.67 422 4. Grouper Inc. recently received at zero cost land from the Village of Cardassia as an inducement to locate its business in the Village. The appraised value of the land is $37,800. The company made no entry to record the land because it had no cost basis. 5. Monty Company built a warehouse for $840,000. It could have purchased the building for $1,036,000. The controller made the following entry. 1,036,000 Buildings Cash Profit on Construction 840.000 196,000 Prepare the entry that should have been made at the date of each cuisition. (Round intermediate calculations to decimal pales.ee MacBook Air 38.220 Equipment Cash Notes Payable Interest Payable 2.800 32,200 3,220 3. Pina Company purchased office equipment for $21,100, terms 2/10, 1/30. Because the company intended to take the discount, it made no entry until it paid for the acquisition. The entry was: 21.100 Equipment Cash Purchase Discounts 20,678 422 4. Grouper Inc. recently received at zero cost land from the Village of Cardassia as an inducement to locate its business in the Village. The appraised value of the land is $37,800. The company made no entry to record the land because it had no cost basis. 5. Monty Company built a warehouse for $840,000. It could have purchased the building for $1,036,000. The controller made the following entry 1,036,000 Buildings Cash Proht on Construction 840,000 196,000 Prepare the entry that should have been made at the date of each acquisition (Round intermediate calculations to 5 decimal palces, es 0.56487 and final answers to decimal places, eg. 5,275. 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 for the amounts.) 38.220 Equipment Cash Notes Payable Interest Payable 2,800 32,200 3,220 3. Pina Company purchased office equipment for $21,100, terms 2/10, 1/30. Because the company intended to take the discount, it made no entry until it paid for the acquisition. The entry was: 21.100 Equipment Cash Purchase Discounts 20,678 422 4. Grouper Inc. recently received at zero cost land from the Village of Cardassia as an inducement to locate its business in the Village. The appraised value of the land is $37,800. The company made no entry to record the land because it had no cost basis, 5. Monty Company built a warehouse for $340,000. It could have purchased the building for $1,036,000. The controller made the following entry 1,036,000 Buildings Cash Profit on Construction 840,000 196,000 Prepare the entry that should have been made at the date of each acquisition. (Round intermediate calculations to 5 decimal palces, es 0.56487 and final answers to decimal places, eg,5,275. 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 for the amounts.)