Presented below is information related to Metlock Company. 1. On July 6, Metlock Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:

Land		$500,000
Buildings		1,500,000
Equipment		1,000,000
Total		$3,000,000

Metlock 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. Metlock 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		$147,000
Construction of bases for equipment to be installed later		189,000
Driveways and parking lots		170,800
Remodeling of office space in building, including new partitions and walls		225,400
Special assessment by city on land		25,200

3. On December 20, the company paid cash for equipment, $364,000, subject to a 2% cash discount, and freight on equipment of $14,700. Prepare entries on the books of Metlock Company for these transactions.