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Presented below is information related to Marin Company 1. On July 6, Marin Company acquired the plant assets of Doonesbury Company, which had discontinued operations.

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Presented below is information related to Marin Company 1. On July 6, Marin Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Land Buildings Equipment Total $500,000 1,500,000 1,000,000 $3,000,000 Machinery Marin Company gave 12,400 shares of its $100 par value common stock in exchange. The stock had a market price of $168 per share on the date of the purchase of the property 2. Marin Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. (Prepare consolidated entry for all transactions below.) Repairs to building Construction of bases for equipment to be installed later Driveways and parking lots Remodeling of office space in building, including new partitions and walls Special assessment by city on land $304,500 391,500 353,800 466,900 52,200 3. On December 20, the company paid cash for equipment, $754,000, subject to a 2% cash discount, and freighton equipment of $30,450. Prepare entries on the books of Marin Company for these transactions. (Round intermediate calculations to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places e.3. 58,971. Credit account titles are automatically indented when amount is

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