Plant acquisitions for selected companies are as follows. 1. Sandhill Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $1,008,000. At the time of purchase, Torress assets had the following book and appraisal values. Book Values Appraisal Values Land $288,000 $216,000 Buildings 360,000 504,000 Equipment 432,000 432,000 To be conservative, the company decided to take the lower of the two values for each asset acquired. The following entry was made. Land 216,000 Buildings 360,000 Equipment 432,000 Cash 1,008,000 2. Teal Enterprises purchased store equipment by making a $2,880 cash down payment and signing a 1-year, $33,120, 10% note payable. The purchase was recorded as follows. Equipment 39,312 Cash 2,880 Notes Payable 33,120 Interest Payable 3,312 3. Flint Company purchased office equipment for $21,900, 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 21,900 Cash 21,462 Purchase Discounts 438 4. Buffalo 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 $38,880. The company made no entry to record the land because it had no cost basis. 5. Carla Company built a warehouse for $864,000. It could have purchased the building for $1,065,600. The controller made the following entry. Buildings 1,065,600 Cash 864,000 Profit on Construction 201,600

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.)

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