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Presented below is information related to Tamarisk Company. 1. On July 6 , Tamarisk Company acquired the plant assets of Doonesbury Company, which had discontinued
Presented below is information related to Tamarisk Company. 1. On July 6 , Tamarisk Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Tamarisk Company gave 12,000 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. Tamarisk Company expended the following amounts in cash between July 6 and December 15 , the date when it first occupied the building. 3. On December 20 , the company paid cash for equipment, $546,000, subject to a 2% cash discount, and freight on equipment of $22,050 Prepare entries on the books of Tamarisk Company for these transactions. (Do notround intermediate caleulations and final answers to 0 decimal places eg. 5B, 971 . Credit account tites are aubmutically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tites and enter O for the amounts. List all debit entries before credit entries.)
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