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Presented below is information related to Sandhill Company 1. On July 6, Sandhill 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 Sandhill Company gave 12,300 shares of its $100 par value common stock in exchange. The stock had a market price of 5168 per share on the date of the purchase of the property, 2. 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.) $283,500 364,500 Repairs to building Construction of bases for equipment to be installed later Driveways and parking lots 329,400 434,700 Remodeling of office space in building. Including new partitions and walls 48.600 Special assessment by city on land 3. On December 20, the company paid cash for equipment. $702,000, subject to a 2% cash discount, and freighton equipment of $28,350. Prepare entries on the books of Sandhill Company for these transactions. (Round intermediate calculations to 5 decimal places, es 1.25124 and final answer to decimal places eg. 58,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit No. Account Titles and Explanation 1. Land Buildings Equipment Common Stock Paid in Capital in Excess of Par. Common Stock 2. Building Land improvements Land Common Stock Paid-in Capital in Excess of Par - Common Stock 2. Buildings Land improvements Land Cash 3. Equipment Cash

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