Plant acquisitions for selected companies are as follows. 1. Flounder Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $994,000. At the time of purchase, Torress assets had the following book and appraisal values.

		Book Values			Appraisal Values
Land		$284,000			$213,000
Buildings		355,000			497,000
Equipment		426,000			426,000

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

Land		213,000
Buildings		355,000
Equipment		426,000
Cash				994,000

2. Culver Enterprises purchased store equipment by making a $2,840 cash down payment and signing a 1-year, $32,660, 10% note payable. The purchase was recorded as follows.

Equipment		38,766
Cash				2,840
Notes Payable				32,660
Interest Payable				3,266

3. Larkspur Company purchased office equipment for $21,800, 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		21,800
Cash				21,364
Purchase Discounts				436

4. Cullumber 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 $38,340. The company made no entry to record the land because it had no cost basis. 5. Riverbed Company built a warehouse for $852,000. It could have purchased the building for $1,050,800. The controller made the following entry.

Buildings		1,050,800
Cash				852,000
Profit on Construction				198,800

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.)

No.	Account Titles and Explanation	Debit	Credit
1.	enter an account title for the first transaction	enter a debit amount	enter a credit amount
	enter an account title for the first transaction	enter a debit amount	enter a credit amount
	enter an account title for the first transaction	enter a debit amount	enter a credit amount
	enter an account title for the first transaction	enter a debit amount	enter a credit amount
2.	enter an account title for the second transaction	enter a debit amount	enter a credit amount
	enter an account title for the second transaction	enter a debit amount	enter a credit amount
	enter an account title for the second transaction	enter a debit amount	enter a credit amount
3.	enter an account title for the third transaction	enter a debit amount	enter a credit amount
	enter an account title for the third transaction	enter a debit amount	enter a credit amount
4.	enter an account title for the fourth transaction	enter a debit amount	enter a credit amount
	enter an account title for the fourth transaction	enter a debit amount	enter a credit amount
5.	enter an account title for the fifth transaction	enter a debit amount	enter a credit amount
	enter an account title for the fifth transaction	enter a debit amount	enter a credit amount