Plant acquisitions for selected companies are as follows: Crane Industries Inc acquired land, buildings and equipment from a bankrupt company. Torres Co., for a lump-sum price of $732.000. At the time of purchase. Torres's assets had the following book and appraisal values: 1. Land Book Value Appraisal Value $193,000 $145.000 248.000 340.000 339.000 339.000 Buildings Equipment Crane Industries decided to take the lower of the two values for each asset it acquired. The following entry was made: Land Buildings Equipment Cash 145.000 248.000 339.000 732,000 Crane Industries expects the building structure to last another 20 years; however, it expects that it will have to replace the roof in the next five years. Torres Co. indicated that, on initial construction of the building the roof amounted to 22% of the cost of the building. Because of the unique design and materials needed to replace the roof, the contractors stated that the roof structure is currently worth 16% of the value of the building purchase 2. Hari Enterprises purchased equipment by making a $1,700 cash down payment and signing a $26,600. one-year, 11% note payable. The purchase was recorded as follows: 31,226 1.700 Equipment Cash Notes Payable Interest Payable 26.600 2.926 3. Kim Company purchased equipment for $20,800, 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: 20,800 Equipment Cash Purchase Discounts 20,384 416 4. Kaiser Inc. recently received land at zero cost from the Village of Chester as an inducement to locate its business in the village. The land's appraised value was $29,800. The company made no entry to record the land because it had no cost basis. Desis. 5. Zimmerman Company built a warehouse for $626,000. It could have contracted out and purchased the building for $730.000. The controller made the following entry: Buildings 730.000 Cash 626,000 Sales Revenue 104,000 Prepare the entry that should have been made at the date of each acquisition. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Do not round intermediate calculations. Round final answers to decimal places, eg. 5,275.) No. Account Titles and Explanation Debit Credit 1. Land Buildings 3.