Question 8 Presented below is information related to Pina Company 1. On July 6, Pina Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Land Buildings Equipment $392,000 1,176,000 784,000 2,352,000 Total Pina Company gave 12,500 shares of its $ 100 par value common stock in exchange. The stock had a market price of $ 175 per share on the date of the purchase of the property. 2. Pina 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 163,280 Special assessment by city on land $96,840 132,190 129,530 18,910