Plant acquisitions for selected companies are as follows.

1. Cullumber Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $910,000. At the time of purchase, Torres's assets had the following book and appraisal values.

Book Values Appraisal Values

Land $260,000 $195,000

Buildings 325,000 455,000

Equipment 390,000 390,000

To be conservative, the company decided to take the lower of the two values for each asset acquired. The following entry was made.

Land 195,000

Buildings 325,000

Equipment 390,000

Cash 910,000

2. Riverbed Enterprises purchased store equipment by making a $2,600 cash down payment and signing a 1-year, $29,900, 10% note payable. The purchase was recorded as follows.

Equipment 35,490

Cash 2,600

Notes Payable 29,900

Interest Payable 2,990

3. Marin Company purchased office equipment for $19,200, terms 2/10, n/30. Because the company intended to take the discount, it made no entry until it paid for the acquisition. The entry was:

Equipment 19,200

Cash 18,816

Purchase Discounts 384

4. Headland 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 $35,100. The company made no entry to record the land because it had no cost basis.

5. Sage Company built a warehouse for $780,000. It could have purchased the building for $962,000. The controller made the following entry.

Buildings 962,000

Cash 780,000

Profit on Construction 182,000

Prepare the entry that should have been made at the date of each acquisition. (Round intermediate calculations to 5 decimal palces, e.g. 0.56487 and final answers to 0 decimal places, e.g. 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 0 for the amounts.)