Overview Question 1 --/1 Question 2 --/1 Question 3 --/1 Question 4 --/1 Question 5 --/1 Question 6 --/1 Question 7 --/1 Question 8 --/1 Question 9 --/1 Prev Next Question 5 --/1 View Policies Current Attempt in Progress Presented below is information related to Blossom Company. 1. On July 6, Blossom Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Land $200,000 Buildings 600,000 Equipment 400,000 Total $1,200,000 Blossom Company gave 12,000 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. Blossom 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 $115,500 Construction of bases for equipment to be installed later 148,500 Driveways and parking lots 134,200 Remodeling of office space in building, including new partitions and walls 177,100 Special assessment by city on land 19,800 3. On December 20, the company paid cash for equipment, $286,000, subject to a 2% cash discount, and freight on equipment of $11,550. Prepare entries on the books of Blossom Company for these transactions. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places e.g. 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 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. 3. eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer Prev Next