Please help me with my assignment..................................................

Chapter 9 Assignment Question 1.On January 1, 2013, LR purchased a 1,000 acre ranch. The asking price was $1,300,000. Approximately 10 percent of the total value of the ranch was allocable to ranch improvements. Payment in full was made as follows: Cash, $371,930, 10,000 shares LR common shares (market $25 per share based on several recent large market exchanges) and a $500,000 non-interest-bearing note payable in full on December 31, 2014 (going interest rate, 15 percent). Required: Provide the journal entry for LR to record this purchase (rounded). Question 2. A new machine was acquired by JR that had a quoted price of $6,000. JR paid $1,500 cash and transferred 100 shares common shares (current market value, $40 per share, based on several recent large trading transactions.). Other payments related to the acquisition were: transportation, $150; provincial sales tax, $50, and installation costs, $200. Required: By what amount should the asset account be debited? $___________________. Question 3. XZ owned Asset A that was reflected in the accounts as: cost, $30,000 and accumulated amortization, $20,000. Its market value in present condition is reliably estimated to be $12,000. XZ acquired Asset B (a similar asset) that had a firm cash price of $16,000. The asset acquired (B) was paid for by trading in Asset A and paying cash of $8,000. Required: Provide the journal entry XZ should make to record this transaction. Question 4. Required: Provide the journal entries for the independent transacations below: Item (a) Jan. 1, 2001 purchased land with a usable office building thereon for cash of $200,000. Tax assessment values: Land $20,000; building $60,000 (b) Jan. 1, 2001 purchased land for future building site for a cash cost of $40,000; an old building on this site, appraised at $2,000 at the date of purchase, is to be torn down immediately. (c) Net cash cost of demolishing the old building in (b) above amounted to $2,000. (d) Cash cost of excavation for basement of the new building (b above) was $6,000. (e) Lawyers' fees paid in connection with purchase of real estate in (b) $900. (f) Taxes paid on land purchased in (b) assessed before completion of building, $300. (g) Factory superintendent's salary for 2001 was $24,000. During 2001, the superintendent spent the first six months supervising construction of the new building; the next three months supervising installation of productive machinery in the new building, and the last three months supervising operations in the new building. (h) Cost of grading and paying parking space and walks behind new building, $9,500. Question 5 ABC Inc. purchased a copper mine for $400,000 on January 1st, 2008. The company is required by provincial law to restore the land on which the mine is located to its initial condition at the end of the mine's ten year useful life. Restoration costs are estimated to be $35,000. ABC is subject to an interest rate of 5%. Required: Prepare the journal entries required on January 1st and December 31st, 2008. Round all entries to the nearest dollar