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  3. please help! 1. on july 6, sunland company ac

please help! 1. On July 6, Sunland Company acquired the...

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Accounting

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1. On July 6, Sunland Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Sunland Company gave 12,200 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. Sunland 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, $468,000, subject to a 2% cash discount, and freight on equipment of $18,900. Prepare entries on the books of Sunland Company for these transactions. (Do not round intermediate calculations and final answers to 0 decimal places e.s. 58,971. Credit account titles are automatically indented when amount is entered. Do not No. Account Titles and Explanation Debit Credit 2. 3

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