Question 3 of 9

Question 3 of 9 Presented below is related to Company. I. On July 6. Sandhill Company acquired the plant assets of Doonesbury Company. which had discontinued operations. The appraised value of the property is: Buildings Equipment Total $400,000 1,200.000 sooooo Sandhill Company gave 12.2W shares of its $100 par value common stock in exchange. The stock had a market price of $163 per share on the date of the purchase of the property. Sandhill 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 equiprnent to be installed later Driveways and parking lots Remodeling of office space in building, including new partitions walls Special assessment by city on land $136,500 175,500 158,600 209.300 23.400 3. On December 20, the company paid cash for equipment. $338,000. subject to a 2% cash discount, and freight on equipment of $13,650. Prepare entries on the books of Sandhill Company for these transactions. intermediate calculations to 5 cimal places, e.g. 125124 and to O dedrnal places 58, 971 Crdit account tit/ autonutjcally indaned whel amoum entu-ed Do iMent firwnua'ty If no entry is lt No Entry" tre accour* titles aM enter O for the anwunts) NO. Account Titles and Explanation Debit Credit