Presented below is information related to Vaughn Company 1. On July 6, Vaughn Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Land $300.000 Buildings 900,000 Equipment 600,000 Total $1,800,000 Vaughn Company gave 12,300 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. Vaughn 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 $63,000 Construction of bases for equipment to be installed fater 81,000 Driveways and parking lots 73,200 Remodeling of office space in building including new partitions and walls 96,600 Special assessment by city on land 10,800 3. On December 20, the company paid cash for equipment, $156,000, subject to a 2% cash discount, and freight on equipment of $6,300 Prepare entries on the books of Vaughn Company for these transactions. (Round intermediate calculations to 5 decimal places, eg. 1.25124 and final answer to decimal places eg. 58,971. Credit account titles are automatically indented when amount kental mint Debit Credit No. Account Titles and Explanation 1. Land Buildings Equipment Common Stock Paid-in Capital in Excess of Par - Common Stock 2. Buildings 81000 Land Improvements 73200 Land 10800 Cash 3. Equipment Cash