Chapter 1 Problem 15-4
1. Machinery 500,000
Cash 500,000
2. Land (2/5 x 5,500,000) 2,200,000
Building (3/5 x 5,500,000) 3,300,000
Cash 5,500,000
3. Investment in equity security 500,000
Cash 500,000
Delivery equipment (5,000 x 120) 600,000
Investment in equity security 500,000
Gain on exchange 100,000
Taxes and licenses 3,000
Cash 3,000
4. Equipment 1,000,000
Donated capital 1,000,000
Donated capital 25,000
Cash 25,000
5. Land 2,000,000
Building 5,500,000
Share capital (60,000 x 100) 6,000,000
Share premium 1,500,000
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